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Igus India inaugurates 92,000 sq ft manufacturing plant in Bengaluru
Industry News- Aug 23,24
The new Bengaluru facility represents an investment of over Rs 1 billion.
Igus India has opened a new, state-of-the-art 92,000 sq ft manufacturing plant in Mandur, near Budigere in Bengaluru. This new facility is part of Igus's strategy to expand its focus on the semiconductor and renewable energy sectors, both expected to experience substantial growth. Since its establishment as a subsidiary in 2000, Igus India has become a major player in the motion plastics industry, serving over 19,000 customers across the country. The company offers an extensive catalogue of 125,000 parts, with more than 200 new products introduced annually.
The new Bengaluru facility represents an investment of over Rs 1 billion. This investment is divided as follows; Rs 200 million for the factory setup, Rs 400 million for advanced injection moulding machines, and Rs 200 million for manufacturing processes. Equipped with cutting-edge technology, the plant is designed to meet the high standards of motion plastics production, ensuring world-class products for Igus's customers.
Deepak Paul, Managing Director, Igus India, highlighted the strategic importance of this expansion, emphasising the tremendous potential of the Indian market. He noted that Igus’s global focus on cost-effective and sustainable solutions aligns well with India's approach to technology and innovation, driving significant growth in the country. Igus plans further expansion beyond Bengaluru, with new logistics and assembly centers planned in Pune, Gurugram, and Noida.
Igus India, currently the 6th largest subsidiary among Igus’s 38 global subsidiaries, has seen its market growth double over the past two years, with revenue rising from Rs 1.99 billion to Rs 3.13 billion. The company expects this growth trend to continue, projecting revenue of Rs 3.4 billion for 2024. Additionally, Igus India has invested in a clean room testing facility in Germany and plans to establish a similar facility in India to enhance product development and quality assurance.
Santhosh Jacob, Country Manager and Director, Igus India, emphasised that technology and innovation are central to the company's operations. With the ongoing expansion of its motion plastics product line and the integration of digitalisation and AI, Igus is making significant strides in embedding digitalisation as a key technology, which will be crucial for the company's future growth. Igus India also plans to focus on the emerging semiconductor and renewable energy sectors by investing in people and participating in industry-specific events with specialists from Germany.
(bisinfotech)
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