Gunnebo subsidiary targets safe market in India

Kolkata, Jun 25: Gunnebo India, subsidiary of Gunnebo AB of Sweden, is targeting the safe market in India with its brand new design safes that are lower in weight by 25 per cent compared to coventional ones.

The new safe 'Europa' comes under Chubbsafes the company's time tested brand of physical safes catering to the banking sector.

The Chubbsafes also has wide application in high security areas like airports, nuclear installations and power plants.

''The safes are being manufactured in the new factory in Halol,'' Gunnebo India's managing director Nicholas J Roberts said.

Gunnebo is targeting the banks and jewelers with the new brand, Roberts said.

The company is exploring opportunities to export its products out of India, he said.

The Swedish major also has manufacturing bases in Indonesia, France and Sweden apart from India.

Gunnebo entered in India in 2001 after acquiring SteelAge Industries.

''The market for safes is growing at 20 per cent. Gunnebo India, with Rs 80 crore business, is targeting similar growth,'' Roberts said.

The company is also looking into electronic security systems, he said.

UNI