2M Holdings to set up escalator manufacturing unit in Palakkad

Our Bureau Kochi | Updated on January 23, 2020

2M Holdings, the holding company of 2M Components and 2M lifts, is setting up the first escalator manufacturing unit in Kerala at Kanjikode Industrial Area in Palakkad.

Coming up on 2 acres of land at a project cost of ₹14.5 crore, the factory, with a capacity to produce 2000 units of elevators and 500 units of escalators per year is expected to be operational within 6 months.

2M Holdings has also tied up with the Germany based TUV SUD to set up a lift technology institute in Kalady near Kochi. Noorul Ameen, Director, 2M Institute, said the institute would offer 6-month certification programmes in lift technology. The curriculum has been designed to cater to the increasing demand for trained personnel in this field. There is a dearth of trained manpower in lift and escalator industry, both in manufacturing and servicing, he said.

The company, which is a leading manufacturer, AMC provider and exporter of lift and escalator parts, is currently catering to GCC countries and the Far East. An ordinary lift has nearly 2,250 parts and the company manufacture 30 to 40 of them in its plants. In addition to these, there are contract manufacturing agreements with units in Coimbatore, Kolkata, Ludhiana, Ahmedabad and Pune, Ameen said.

Published on January 23, 2020

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