Kone Elevator India' to expand manufacturing facility

Chennai, Mar 12 (UNI) Kone Elevator India, a 100 per cent subsidiary of the elevator and escalator major 'Kone Corporation,' today announced expansion of its manufacturing facility here with an investment of about Rs 24 crore this year.

Finnish Prime Minister Matti Vanhanen unveiled a plaque to mark the commencement of the expansion process at a ceremony.

Kone Elevator India Managing Director A Sankarakrishnan told reporters that the company had embarked on the expanion process to meet the high volumes and increasing requirements of customers.

He said the new facility, which would become operational by August this year, would help the company to increase production to about 300 elevators per month.

The company, which registered a turnover of Rs 258 crore last year, was looking at a growth of 40 per cent, he added.

Stating that skilled manpower had become a pre-requisite for sustaining the quality of services as well as for meeting the requirements of customers, Mr Sankarakrishnan said a new state-of-the-art training centre had been planned to facilitate the same.

He said the Indian market was growing steadily and the overall market was about 18,000 to 20,000 elevators and escalators per annum as against 1.25 lakh in China.

Eventhough the Indian operations were established for the local market, the country had the potential to develop into an export base for other markets in the region, he averred.

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