Mumbai, Apr 19 (UNI) Fuchs Lubricants (India), a wholly owned subsidiary of Fuchs Petrolub AG Germany, will set up a manufacturing plant at Ambernath in Thane District of Maharashtra.
The lubricants specialists Company has now confirmed its firm footing in India by laying the foundation stone of a large manufacturing facility.
Talking to reporters, Fuchs Chairman Stefan Fuchs said, ''The new manufacturing site became necessary as the company is undergoing a major expansion and has outgrown its current local production. We are investing USD 8 to 10 million in India for setting up this manufacturing base.'' The Company has already acquired a 95 years' lease on a ten acre plot of land from Maharashtra Industrial Development Corporation (MIDC) to set up a new state-of-the-art plant for manufacturing lubricating oils, greases and specialties in Ambernath, he added.
Fuchs Lubricants (India) Managing Director Kersi Hilloo said, ''The new plant will start its initial production by early 2009 and be expanded subsequently to cater for long term business growth. We are looking at touching a turnover of Rs 150 crore by 2010.'' UNI AR NM AG1506