Milacron LLC, the global leader in high precision plastic processing technologies and control systems, today announced its plans to further invest US$30 million in its India operations.
The firm plans to invest US$20 million in Ferromatik Milacron India's (FMI) Ahmedabad facility to double its manufacturing capacity of Injection Moulding Machines & Blow Moulding Machines as well as commence the production of Extrusion Line. It will invest another US$10 million in Mold Masters (a subsidiary of Milacron LLC), manufacturers of Hot Runners & Controls, for expansion at its Coimbatore facility to meet the growing customer needs.
Announcing the investment, Milacron President and CEO Tom Goeke who is currently in India stated, "We certainly share the new government's 'Make in India' philosophy. In fact, we have a ‘Made in India, for India' strategy. It makes immense business sense for us, helping us directly target a growing set of customers with locally made products in India and sold globally. Going by the current growth rate, by 2020 India will be second only to China in the global polymer processing market. We are very positive about our growth in India and plan to continue to make substantial investments in India and rest of markets in the coming years." said Goeke.
"The expansion at FMI will increase the production capacity from 1,500 to 2,100 Injection Molding and Blow Molding Machines a year. We are also planning to double the workforce from the current 1,200 employees in various Indian locations to 2,400 in line with the expansion," Goeke added.
The growth of the infrastructure and construction market in India is a major reason for the expansion and introduction of Extrusion Line and the company wants to expand its market share.
"With the addition of this new range of Extrusion products, we are a step ahead and on the edge of technology to better serve our customers in India, SAARC, Middle East and Africa. Our Extrusion Line established products will offer wider range to our customers," said Shirish Divgi, Managing Director, Ferromatik Milacron India. Milacron's state of the art manufacturing plants are based in Ahmedabad and Coimbatore. The FMI facility at Ahmedabad is spread over an area of about 55,000 sq mt. The plant's layout and manufacturing methods are in line with its Cincinnati based parent company Milacron LLC, with modern in-house manufacturing facility to ensure highest quality standards for business improvement.
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