Milacron LLC, the global leader in high precision plastic processing technologies and control systems, has announced plans to further invest $30 million (Rs 181.95 crore) in its India operations.
22 Aug 2014 | 6182 Views | By Autocar Pro News Desk
Given the Narendra Modi-led government’s focus on infrastructure and his recent call to drive manufacturing in India, Milacron LLC, the global leader in high precision plastic processing technologies and control systems, has announced plans to further invest $30 million (Rs 181.95 crore) in its India operations.
The firm plans ...
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Given the Narendra Modi-led government’s focus on infrastructure and his recent call to drive manufacturing in India, Milacron LLC, the global leader in high precision plastic processing technologies and control systems, has announced plans to further invest $30 million (Rs 181.95 crore) in its India operations.
The firm plans to invest $20 million (Rs 121.30 crore) in Ferromatik Milacron India’s Ahmedabad facility to double its manufacturing capacity of injection moulding machines and blow moulding machines as well as commence production of extrusion line. It will invest another $10 million (Rs 60.65 crore) in Mold Masters (a subsidiary of Milacron LLC), which manufactures hot runners and controls, for expansion at its Coimbatore facility to meet growing customer needs.
Announcing the investment, Tom Goeke, Milacron president and CEO, said: “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 Ferromatik Milacron India will increase the production capacity from 1,500 to 2,100 injection moulding and blow moulding 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.
“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 a wider range to our customers,” said Shirish Divgi, managing director, Ferromatik Milacron India (FMI).
FMI’s state-of-the-art manufacturing plants are based in Ahmedabad and
Coimbatore. The layout and manufacturing operations at the Ahmedabad plant, which is spread across 55,000 square metres, are in line with its Cincinnati-based parent company Milacron LLC to ensure highest-quality standards.
FMI currently serves the entire gamut of plastic applications in 40 countries in SAARC, Middle East, Africa and the USA. Set up in 1995, FMI offers the full range of injection moulding machines from 50 tonnes to 3,200 tonnes. It has a manufacturing capacity of 1,500 machines per annum and an all-India sales and service network.
Photograph: Tom Goeke, president and CEO, Milacron LLC, along with Shirish Divgi, managing director, Ferromatik Milacron India (to his right).