Sandvik to expand Pune facility with high speed steel taps plant

Pune, Nov 27 (UNI) Sandvik Asia Ltd (SAL), the USD 8 billion Swedish Group today announced its expansion plans with the setting up of a new High Speed Steel Taps Plant under the Titex brand name in the Sandvik Tooling Division here at a cost of Rs 45 crore that will cater 80 per cent to exports and 20 per cent to domestic demand.

Sandvik Asia Ltd Director and President Hakan Kingstedt, said India is the focus for investments with a booming economy and providing the platform for global supply.

''The production capabilities here have the right mix of high quality, high efficiency and flexibility needed with technology and engineering.'' The expected production in the new plant will be one million pieces in the first year with potential for expansion as the demand for Steel Taps in the industrial segment is foreseen to increase.

The demand presently stands at 20 million taps.

The company will begin production by 2008 at its double-storeyed manufacturing facility here. The expansion will create jobs for 75 people. Sandvik's business areas include Materials Technology, Tooling and Mining and Construction, Gas and Energy and Stainless Steel. It has manufacturing bases at five places including Mehsana, Hosur, Hyderabad, Chiplun apart from Pune and expansion at these places will be announced later, Kingstedt said.

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