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Home arrow News arrow Business News arrow Ingersoll Rand to set up new Greenfield Manufacturing facility in India
Ingersoll Rand to set up new Greenfield Manufacturing facility in India Print E-mail
Written by Anand   
Friday, 29 October 2010
New Delhi: Ingersoll Rand plans to establish a third manufacturing facility in India. The new facility will be set up at an investment of USD 20 million (around Rs 88 crore) and is likely to be ready within the next 18 months.

The new greenfield manufacturing plant will be located in Southern India. The company is currently evaluating two strategic locations in Southern India for the new manufacturing facility.

The facility will primarily cater to manufacturing products for the Heating, Ventilation and Air Conditioning (HVAC) industry. It will also focus on products for Transport Air Conditioning and Food Security.

India is a key market for Ingersoll Rand. The new manufacturing facility is part of the company’s overall growth strategy to drive innovation, technology and product development in areas such as Food Preservation, Energy Efficiency, Climate Control, and Security Technologies.

Talking about the new greenfield manufacturing facility, Venkatesh Valluri, chairman and president, Ingersoll Rand India said, "The new manufacturing plant will help Ingersoll Rand India achieve greater speed-to-market with innovative new products specifically for emerging economies at relevant price points. It also reaffirms our commitment to providing energy-efficient and sustainable solutions for local and emerging markets."

Earlier this year, the company announced an investment of $100 million in India over the next three years.

In India, Ingersoll Rand presently has two local manufacturing operations in Naroda, Ahmedabad, and Sahibabad near Delhi and engineering R&D centers in Bangalore and Chennai. Ingersoll Rand India is based out of 18 locations in the country.

"India is a strategic market for Ingersoll Rand and is fast emerging as a hub for innovation and product localization for emerging economies. With the new manufacturing facility, Ingersoll Rand India will be better positioned to achieve our growth goals for emerging markets and better able to serve our customers with localized products and services," said Michael Lamach, chairman, president and chief executive officer of Ingersoll Rand.

"Local manufacturing, innovation and market-centric product development are the key focus areas for Ingersoll Rand in India," the company said in a statement.

 
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