Financial Daily from THE HINDU group of publications
Wednesday, Dec 11, 2002
Financial Daily from THE HINDU group of publications Wednesday, Dec 11, 2002 |
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Corporate
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Announcements Grundfos Pumps to raise production in India soon Our Bureau
MUMBAI, Dec. 10 DANISH pumps manufacturer, Grundfos Pumps, is looking at the possibility of producing its industrial and building services range of pumps in India by the end of the next calendar year. The company is also considering possibilities of exporting products made in India to neighbouring regions. The company, which has been so far importing pumps, recently began assembling its products in India, said Mr Ranganath N.K., CEO, Grundfos Pumps India Pvt Ltd. " We are hoping to recruit more at our manufacturing unit in Chennai, which will increase our staff number to 200 from the current 54," Mr Ranganath told Business Line on the sidelines of a press conference here. The company, ranked the second largest pump manufacturer in the world last year with a global turnover of $1.2 billion, is relatively new to the Indian market. Grundfos produces the entire CR range of pumps for water treatment, sewerage and water supply apart from uses in fire fighting. It began commercial operations in September 1999 and recorded a turnover of Rs 4 crore. In the year ended December 2001, the company's revenues were up to Rs 25 crore. "We have targeted an annual growth rate of 25 per cent in the Indian market and are looking at achieving sales of Rs 100 crore," Mr Ranganath said. The company is recording better sales with clients such as Infosys, Wipro, ITC Hotels, the Taj and Oberoi groups forming its clientele, despite the fact that products are nearly five times more expensive than ordinary Indian pumps. " We hope that the trade ties between the SAARC countries improve as it will provide us with a gateway to export pumps out of India to Sri Lanka, Bangladesh, etc.," Mr Ranganath said.
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