Starrag Group, headquartered in Switzerland, has set up a machining plant in Bangalore through its subsidiary Starrag India.
The new plant, located at KIADB Aerospace Park in Devanahalli in the city, was inaugurated by its Chairman, Walter Fust and is expected to focus on building WMW machining centres in India.
The company also launched a new range of high performance WMW IWK Horizontal Machining Centers (HMC) at the ongoing international machine tool show Imtex 2013 in Bangalore.
According to A. N. Chandramouli, Managing Director, Starrag India, “The greenfield facility has been built with an investment of 12 million swiss francs or Rs 60 crore.”
It was approved by Karnataka Udyog Mitra during the Global Investor Meet.
The factory is expected to rollout four popular models of WMW Horizontal Machining Centres from July this year to to December 2014. A cost reduction programme through a local supply chain is in an advanced stage of implementation and there will be a national road show of the localised product by July, said Chandramouli.
The two phased manufacturing programme (60-120 units a year) will mainly be absorbed by the Indian market which is now on its economic revival after a slowdown last year.
About 300 highly skilled technicians will be employed over time here. In the new factory, an apprentice training centre has been commissioned using Swiss Vocational Education and Training (VET) programmes already tailored in collaboration with SWISS-MEM.