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Home arrow News arrow Business News arrow Addison & Co sets up Rs 35-crore plant at SIPCOT Industrial Park
Addison & Co sets up Rs 35-crore plant at SIPCOT Industrial Park Print E-mail
Written by Rajeev   
Wednesday, 02 May 2007

Chennai : Addison & Co Ltd, a Rs 150-crore company and a member of the Rs 2,500 crore Amalgamations group, inaugurated it's Rs 35-crore plant at SIPCOT Industrial Park, Irungattukottai (Kancheepuram District), near Chennai. The new factory is located close to the Hyundai, Ford and BMW plants. Proximity to automobile manufacturers gives the new factory logistical advantage.

Machinery has been shifted from the existing facilities and new machinery has also been added to the plant. The company has set up centralised coolant oil system with an investment of Rs 5 crores, to improve product quality and hoping to conserve oil.

M L S Rao, chief executive of Addison, said that the new facility would help in streamlining operations and increase productivity by at least 20 per cent.

He also said that they were expecting some orders from the defence industry.

Addison is the largest HSS metal cutting tool maker in the country and has a market share of 26 per cent in cutting tools industry. Addison is one of India's most versatile tool manufacturers with a range of over 50,000 types of tools.

Last Updated ( Friday, 03 June 2011 )
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