Sandvik to expand in India
By Helen Wright08 July 2013
Equipment manufacturer Sandvik has acquired a 50 acre (202,342 m2) site in Chakan, near Pune, India, where it plans to build a new factory that will produce construction equipment for the Indian market.
The plans, by the manufacturer’s Asia subsidiary, are part of a strategy to focus on the construction and mining sector in the country. The new facility is expected to be up and running by 2015.
Ajay Sambrani, managing director Sandvik Asia, said, “We have identified mining and construction as a major growth area in India, which will make significant contribution to the company’s top line and would become the largest business area in Sandvik.”
The planned factory at Chakan adds to Sandvik Asia’s presence in India, where it has a head office based in Pune, together with a range of existing design, sales and production facilities. Sandvik Asia also has offices in Bangalore and Chennai.
Sandvik president and CEO Olof Faxander said the company would source components from India for export to its other plants globally. He said Sandvik would make significant investment in India, including in its R&D centre, over the next two years.