Schwing Stetter new facility operational by Jan

Chennai, Dec 8: The third manufacturing facility of the German-headquartered Schwing Stetter India Private Limited would become operational from the first week of January and the company has targetted a sales turnover of Rs 1000 crore by 2010.

Manufacturers of concrete pumps, truck mixers and batching plant, the company's facility, set up with an investment of Rs 30 crore, would be formally inaugurated tomorrow at the SIPCOT Industrial Park at Irungattukottai in Sriperumbudur near here.

The new plant adjacent to their present manufacturing unit, will focus on manufacturing batching plants and components for concrete pumps for Indian as well as export markets.

''Once fully operational, the plant will employ close to 250 people'', Schwing Stetter Managing Director Anand Sundaresan and COO V G Sakthi Kumar told reporters here today.

Spread over ten acres of land with a manufacturing facility space of 200,000 sqft, the plant would handle major processes like bending, welding, surface preparation, painting, plastic and assembly operations.

Schwing Stetter Chairman Jochen Goerlich said the new unit demonstrates the company's confidence in the high potential of the Indian economy.

''Our Indian unit has achieved the fastest growth and has also proved to be the most successful. The potential in India is quite large and this unit will very soon notch up a turnover of Rs 10,000 million (1000 crore) and go on to become one of the biggest among the group's companies, five years from now'', he added.

A fully-owned subsidiary of the Euro 850 million Ready Mix Concrete (RMC) equipment global giant SCHWING Group of Germany, the plant would manufacture a wide range of batching plants, transit mixers and concrete pumps and recycling pumps.

First set up in 1999 with a turnover of Rs nine crores, Schwing Stetter India supplies RMC equipment to the Indian subcontinent as well as SAARC countries with a turnover exceeding Rs 500 crore in 2006.

''The capacity enhancing facilities has helped the company's sales to grow from Rs nine crore in 1999 to Rs 550 crore in 2006.

With the launch of the third plant, we expect to touch the Rs 1000 crore mark by 2010 or even by 2008'', Mr Anand Sundaresan said.

He said Schwing Stetter had invested close to Rs 175 crore in their Indian operations till date.

UNI