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Business Economy


Schwing Stetter on expansion mode, to set up new plant in TN

Chennai, Sep 12 (UNI) Leading concrete equipment makers Schwing Stetter
India on Wednesday announced its plans to set up a new manufacturing
facility at SIPCOT Industrial Area in Cheyyar in Tiruvannamalai district
of Tamil Nadu, involving an outlay of Rs 350 crore.
The new facility, to come in a 53 acre area, would come 60 km away from
its existing facilities.
The new unit was a step towards strengthening the company's commitment
to the Indian market and focus on to meet the emerging infrastructure
boom in India and export potential in Asia and African markets.
Schwing Stetter made the payment towards the cost of the land to SIPCOT
today.
A company release said it would be investing about Rs 350 crore in two
phases towards installing this technology-enabled and environmentally
sustainable manufacturing facility.
The new site aims to focus on new product launches and support the
progression of engineered products from the prototype stage to serial
production.
Speaking about the expansion, Company Vice-Chairman and Managing Director
Anand Sundaresan said “the new facility is core to Schwing Stetter’s long
term strategy to expand and reinforce our position as one of India’s leading
concrete equipment manufacturers.''
''We are hopeful of full cooperation from the Tamil Nadu Government for
their support towards the success of the plant'', he added.
Company Managing Director V G Sakthikumar said “boosting our existing
production to cope up with industry demands has been a great challenge
for us.''
''With the launch of this new facility, we endeavour to launch a new
line of exciting, state-of-the-art products to suit the demands of the
global market'', he added.
UNI GV CS 1725
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