Ferromatik Milacron India bags national award for cost management

Ferromatik Milacron India has won the 12^th National Award for Excellence in Cost Management under the ‘Private-Manufacturing: Organisation (Medium)’ category. The award was handed over by Colonel Rajyavardhan Singh Rathore, minister of state for Ministry of Information and Broadcasting, to Vinod Bhalavat, CFO, and Rajendra Sharma, AGM-Finance, Ferromatik Milacron India.

Ferromatik Milacron India is part of Milacron, a global leader in the manufacture, distribution and service of highly engineered and customised systems within the plastic technology and processing industry.

Ferromatik Milacron India says it has initiated various practices like 5S, productivity improvements, Six Sigma, material movement cost, energy conservation and water conservation to achieve cost reductions. According to Bhalavat, “Various start-ups towards the achievement of cost management are not only helping us to save resources but also creating a long-term sustainable environment. The overall reduction in cost also allows us to pass on the benefits to our customers.”