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Concreting equipment major, Schwing Stetter India, plans to explore markets in Indonesia, Vietnam, the Philippines and Thailand. Schwing Stetter India is a fully owned subsidiary of Germany-based equipment manufacturer Schwing GmbH.
Currently, the East Asian economies are catered by Chinese and European arms of Schwing Stetter.
“We have already placed a request with our parent company, and are expecting a decision within the coming two months.” Mr Anand Sundaresan, Managing Director of the Indian operations, told Business Line on Monday.
“Our studies show that there are export opportunities for the Indian operation in these countries. However, our parent company will have to take a call on the same,” he added.
The company currently exports to Nepal, Bhutan and Bangladesh, accounting for less than five per cent of the turnover. The order book of the Indian arm — including both domestic and overseas sales — exceeds Rs 900 crore.
According to Mr Sundaresan, Schwing India, has around 60 per cent share in India's concreting equipment market, and is contributing nearly 14 per cent of the global revenue. The Indian arm is expected to contribute almost 30 per cent of Schwing's global revenue in 2015.
The company is planning to increase its manufacturing facilities in Chennai at a cost of Rs 40 crore. The company has a monthly production of 500 units from its three plants in Chennai.
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