Pune: The wholly owned Indian subsidiary of Swedish engineering giant Sandvik AB, is set to expand its operations in India. Sandvik Asia Ltd (SAL) is looking for land to locate its sixth manufacturing facility in the country where it will produce equipment for mining and construction.
Mining and construction is Sandvik’s fastest growing business in India and accounts for 35% of the parent company’s business.
“The new plant will mainly target the fast pace of growth in the mining and construction segment of our business where we will not only add capacity, but also add new products such as large crushers,” Lars Pettersson, president and CEO, Sandvik AB, said.
The Indian subsidiary is now playing a significant role in the group’s global business, with engineers from Sandvik Asia now contributing to design and development of new products, he said .
“We have moved manufacture of some of our products to India not because it is cheaper to do so here, but because of the high level of competence and engineering skills of the people in the Indian operations.”