Milacron to invest US$30 million to expand India production capacity to expand its range of 'Made in India' products globallyMilacron LLC, the global leader in high precision plastic processing technologies and control systems, 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 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 Mr. 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 2nd 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 Mr. Goeke.
"The expansion at FMI will increase the production capacity from 1500 to 2100 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." Mr. Tom 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.
About Milacron LLC : Milacron, LLC, is majority owned by affiliates of CCMP Capital Advisors, LLC and is committed to being the leading suppliers of plastics-processing technologies and industrial fluids around the world. The people of Milacron's companies know what matters in manufacturing, and every day, put this know how to work to help customers improve productivity, cut costs, increase energy efficiency, eliminate scrap and reduce cycle times. For more information, visit www.milacron.com.
About Ferromatik Milacron India : Ferromatik Milacron India is part of Milacron LLC, USA, a Global Leader in business areas of Plastics Processing Technologies, Metal Working Fluids and Precision Machining with group revenue in excess of US$ 1.2Billion supported by manufacturing credentials accrued over 130 years. Ferromatik Milacron India (FMI) is the leading manufacturer of Plastics Injection Moulding Machines & Blow Moulding Machines in India, serving the entire gamut of Plastic Applications in 40 countries across the world in SAARC, Middle East & Africa including USA. Established in 1995, FMI offers today the Full Range of Injection Moulding Machines from 50 Ton to 3200 Ton with capacity to manufacture 1500 machines per annum and a PAN India Sales & Service Offices in major cities and industrial towns of the country. It is accredited to the Export House Status and is an ISO 9001:2008 and ISO 14001:2004 certified company adhering to World Class Quality Standards. For more information, visit www.milacronindia.com
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