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The Chennai plant of diversified industrial solutions company, Ingersoll Rand India, will be ready by quarter one of 2013, the company said today.
“It is an 11-acre multi-product plant, which will see an investment of $22 million in the first phase,” said Mr Venkatesh Valluri, Chairman and President of Ingersoll Rand India.
The plant would be producing products under the verticals of industrial technology, security and climate technology.
The company had set aside $100 million for India plans in 2009, which should see completion by 2013 end. Mr Michael Lamach, Chairman, Ingersoll Rand, said, “Our India revenue is of $250 million, which is growing at 15-20 per cent year- on year.”
At present, the company, which makes air compressor technology and energy management solution among others, has two manufacturing facilities at Naroda in Gujarat and Sahibabad in Uttar Pradesh.
Product launch
The company, which was essentially in b2b business, on Wednesday entered into residential market, launching a range of premium mini split air conditioners in capacities ranging from 1 tonne to 2 tonnes and an electronic main door mortise lock.
Mr Valluri said that the product is 100 per cent imported from China, although the innovation is Indian. The product will be available in the market, two months down the line.
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