Igus, a major company in motion plastics, has made a big move in India. They have just opened a new factory in Bengaluru. This factory is a huge step for Igus as they grow their business in India. The new facility will help them make more products and serve their customers better. Igus has put a lot of money into this project, showing how much they believe in the Indian market. This new factory will help Igus meet the needs of their many customers and keep up with their growing business.
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Inauguration of New Facility in Bengaluru
The New Factory
Igus has built a new factory in Mandur, which is near Budigere in Bengaluru. This factory covers an area of 92,000 square feet. It is a modern and advanced facility. The new factory will help Igus make more products and meet the needs of their customers in India.
Investment Details
The new factory is a big investment for Igus. They have spent Rs 100 crore, which is about 12 million euros. Here is how they have used this money:
- Rs 20 crore to build the factory.
- Rs 40 crore to buy new machines that help in making parts.
- Rs 20 crore for the production process inside the factory.
This investment shows that Igus is serious about growing their business in India.
Igus India: A Key Player
Company Background
Igus India is part of Igus GmbH, a company from Germany. Igus India began in 2000. It is now a key player in the motion plastics field in India. The company helps more than 19,000 customers all over the country.
Product Range
Igus India offers many products. They have a catalogue with 125,000 different parts. Every year, they add more than 200 new products. This shows their dedication to innovation and serving their customers’ needs.
Expansion and Future Plans
Importance of the New Facility
Deepak Paul, Managing Director of Igus India, spoke about the importance of this new factory. He mentioned that the Indian market has a lot of potential. Igus wants to offer new and better products to customers in India and around the world. They aim to provide affordable and eco-friendly solutions.
Future Plans
Igus plans to grow more in India. They will build new logistics and assembly centers in Pune, Gurugram, and Noida. These centers will help them serve customers better and support their business growth in India.
Performance and Growth of New Factory
Market Growth
Igus India is the sixth-largest branch among Igus’s 38 global branches. This shows their strong performance. Over the past two years, Igus India has doubled its market growth. Their revenue went up from Rs 199 crore to Rs 313 crore. They think it will reach Rs 340 crore by 2024.
New Investments
Igus India has also invested in a clean room testing facility in Germany. They plan to build a similar facility in India. This will help them improve the development and quality of their products.
Technology and Innovation
Focus on Technology
Santhosh Jacob, Country Manager and Director of Igus India, highlighted the company’s focus on technology. Igus India has introduced 247 new products this year. They are also using digital technology and artificial intelligence (AI) in their processes. This helps them stay in front of other companies and give their customers what they want.
Sustainability Efforts
Igus is committed to sustainability. They are investing in the semiconductor and renewable energy sectors. They will also invest in their employees and participate in industry events. This shows their dedication to both technology and the environment.
Conclusion
Igus’s new factory in Bengaluru is an important step in their expansion in India. Igus is putting a lot of money into growing their business in India. They plan to open more centers to reach more people. Igus is focused on technology, new ideas, and being good to the environment. They want to offer high-quality products and solutions. This new facility will help Igus better serve their large customer base and continue their success in India.
Alex Johnson is a seasoned writer and content creator based in New York City. With a passion for storytelling and an eye for detail, Alex covers a wide range of topics, including entertainment, technology, and lifestyle. When not writing, Alex enjoys exploring the vibrant cultural scene of NYC, attending live music events, and experimenting with new recipes in the kitchen. Connect with Alex on social media to stay updated on the latest articles and insights.