Thaindian News

Helsinki, Oct 6 (IANS) Finland-based sustainable energy solutions provider Ensto plans to expand its business in India by doubling its headcount by 2012 and setting up a new manufacturing unit.

“An upswing in the IT exports and increasing presence of multinationals has encouraged us to expand our business in the country. We will double our headcount by the next year to reach almost 90 to 100 employees, besides we need more manufacturing capacity and research and development facility as new products are going to ramp up there,” Jukka Riekkinen, director, sales and marketing, global account management, Ensto Industrial Solutions told IANS.

“In the coming years we need space… may be we can have another one (manufacturing unit) in south India,” he added.

The company currently has a factory in Manesar in Haryana’s Gurgaon district and employs over 45 people in India.

“By 2032, India will be among the three largest economies in the world,” the company said Wednesday.

As compared to neighbouring China, Ensto’s products are more in demand in India, Jukka said.

“India is much more important market for us than China because of the its highly competitive markets as compared to China and the level of investments that we have planned for the Indian market is very very heavy,” he said.

The company denied giving any financial details of the planned investment.

Founded in 1958, the firm is headquartered in Porvoo city of Finland and is a privately-owned family company.

With a turnover of 250 million euros, Ensto operates in 20 countries across the world and specializes in development, manufacturing and marketing of electrical systems and supplies for the distribution of electrical power as well as electrical applications.

(Priyanka Sahay can be contacted at priyanka.sahay@ians.in )