Bangalore - Swiss machine tool major, Starragheckert, today announced its global expansion strategy with plans to launch manufacturing operations in India at an investment of approximately 23.56 million Euros (USD 31 million / INR 1.514 billion).

Starragheckert will invest in their new maiden venture in India in 2 phases. Bangalore, Chennai and Pune have been short-listed for setting up the plant and the final location of the plant will be decided within the next 3 months.

In the first phase, the company will invest USD 6 million to set up a 15,000-25,000 sq.ft. assembly and manufacturing plant. It will build up local sourcing and engineering in addition to growing sales and expanding customer base. 

In the second phase, Starragheckert will invest USD 25 million in world class machinery for its plant. The company will also invest in a vocational training center to build domestic talent and skills.

By the end of the second phase the company is expected to start exports from India.

The company's wholly owned subsidiary in India, StarragHeckert Machine Tools Pvt. Ltd., will be led by Andreas Beck, Managing Director (Head of India Operations) and Simon Engeli, Commercial Director.

Under the "WMW" brand, the company has already exported approximately 28,000 machines to India.

When the manufacturing operations begin, StarragHeckert Machine Tools Pvt. Ltd., is expected to source components like hydraulics, chip conveyors etc from the local market. Mr. Ghanshyam Agarwal, Manging Director, Francis Klein said that domestic manufacture of these machines would decrease costs by 20 to 30 per cent. Francis Klein was responsible, so far, in bringing these machines to the Indian market.

At the launch Dr. Frank Brinken, CEO StarragHeckert Group said, "We are excited to enter and invest in the Indian market, this endeavour will help us build on more customers and help strengthen our relations with the existing clientele like HAL, BHEL, Siemens, Ashok Leyland, Winergy and Ministry of Defence, govt of India to name a few."

Dr. Brinken also mentioned that Research and Development activities are expected to move to India since Europe was running out of Engineering talent.

Mr. Andreas Beck, Managing Director and Head of India Operations, Starragheckert, added "India is one of the fastest growing economies in the world and we are looking at making this set up a hub for advanced world class technology and skilled talent pool. We would focus on tapping prospective markets like quality passenger cars, Light and heavy trucks and buses, agricultural equipment, power generation, defence, aerospace and machine Building Industries"
 
On this occasion they also announced the introduction of the WMW horizontal machining centre range – CWK Series 400 to 800. This machining centre features a unique high technology machining concept for the automotive, aerospace and precision machinery markets. This range will be marketed under the famous WMW brand and is premiered at IMTEX 2009 exhibition in Bangalore.