India to become new Asian outsourcing hub of Flakt Woods: CEO

Kolkata, Jan 18 (UNI) Flakt India, a wholly owned Indian subsidiary of Flakt Woods, will make India its new outsourcing hub for the Asian market.

Speaking at a press conference here today, Flakt India CEO Anil Baijal said, '' We are outsourcing components from India, manufactured in our factories in Kolkata and Chennai, to markets in Taiwan, Australia, Korea and various other countries. '' He said, '' We are also planning to transform Flakt India into a production hub for South East Asia and West Asia. '' Flakt India is also planning to double its turnover by end of 2007 (calendar year) to Rs 300 crore and target a growth of more than 10 per cent by rolling out new products.

'' The company's turnover in last fiscal which ended in 2006 December as, was Rs 150 crore, '' Mr Baijal said.

The company would launch a complete air-conditioning solution, which include air-handling units, ventilation, filtering and energy-saving equipment. It would also roll out a special technology-enabled equipment for basement car parking and other new products.

Currently the size of the centrally Air-Conditioning and ventilation market is valued at Rs 3000 crore. '' We have 60 per cent of this market, '' Flakt Woods CEO and SVP-Air Climate Europe Didier Forget said.

Speaking to mediaperson, Mr Forget said,'' We have also captured 40 per cent of the industrial fan market in India. We will launch new products in this segment. '' Apart from rolling out new products, the company was also scouting for a new location for its third factory in India. The company has two factories in India--Chennai and Kolkata-- with a total production capacity of 4,000 industrial fand per annum.

The turnover of Flakt Woods was Euro 540 million globally and Asia's share was Euro 110 million last year.

UNI