Sew Eurodrive commissions Chennai plantFebruary 10th, 2009 - 8:53 pm ICT by IANS
Chennai, Feb 10 (IANS) Sew Eurodrive India, manufacturer of drive and motion control devices like industrial gears, commissioned its Sriperumbudur plant near here Tuesday.
“The Rs.330-million outlay plant was set up to serve the southern markets that contribute to nearly 40 percent of our turnover,” M.J. Abraham, chief executive of the Rs.1.07-billion (Rs.107-crore) company, told reporters here.
“The balance turnover comes from western (40 percent) and northern (20 percent) parts of India that will be serviced from our Vadodara plant in Gujarat,” he added.
According to Abraham, the company has invested Rs.550 million (Rs.55 crore) since 2007 towards expanding the Vadodara unit and building the Sriperumbudur plant.
He said Eurodrive supplies to automobile, pharmaceutical, food and beverage, steel, construction and textile industries.
Eurodrive’s parent company Sew Eurodrive GmbH has 19 plants in the Asia region of which the Chennai unit is the first one being built as per green building specifications.
With the new plant, the company’s capacity in India would go up to 56,000 units.
The company sold 17,000 units in 2008.