Shibaura Machine India Private Ltd (SMI), a subsidiary of Japan's Shibaura Machine, is planning to invest Rs 225 crore in India to double its manufacturing capacity in Chennai.
The company manufactures about 1200 injection moulding machines and auxiliary equipment a year that cater to sectors like automotive, electrical, household & furniture, material handling, medical, packaging, preforms, PVC, toys, writing instruments, and other industries.
The company has a presence in over 45 countries, including, North America, the Middle East, East & West Africa, and the SAARC region. With this investment, SMI's manufacturing capacity is expected to grow up to 3200 machines a year in a phased manner.
Announcing its investment plan, Shigetomo Sakamoto, President, Shibaura Machine Group, Japan, said, "India has been a strategic investment destination for us, and it represents a growing market for our products. SMI is the very first unit outside Japan to have been recognized with the prestigious Shibaura Machine's President Award for its performance and technological innovation. The Indian unit has won this coveted prize twice in three years. We are confident of what our Indian team can achieve in design, manufacturing, and customer service, in the years to come."
Along the same lines, M. Kumar, Managing Director, SMI, said, "With the new investment, we will continue to grow our capacity and team. We will add new products and increase our customer base, buoyed by the track record of being able to meet the varied requirements of our customers and the stringent standards of importing countries like the USA, Africa, the Middle East, and South & Southeast Asia."
SMI is known to have a strong commitment to CSR. As part of its skill development program, the company runs a Basic Training Provider program, recognized by the Ministry of Skill Development and Entrepreneurship, Government of India. This training provides job training to Class 10-12 students. Up to the present, about 100 students are qualified for internships under the National Apprenticeship Certificate Scheme.
