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Kemppi Oy to invest over $10 mn in India in 2 yrs

Kemppi Oy to invest over $10 mn in India in 2 yrs
PTI
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First Published: Wed, Jan 19 2011. 03 53 PM IST
Updated: Wed, Jan 19 2011. 03 53 PM IST
Chennai: Finnish firm Kemppi OY engaged in manufacturing of arc welding machines on Wednesday said that it would invest over $10 million in India in the next two years.
The company’s first fully owned unit outside Finland is coming up at suburban Neelankarai and would be commissioned by April 2011, Kemppi Oy (India)’s managing director Aravind Vasu said.
With market for infrastructure growing in India, welding industry was well poised to grow and his company wanted to capitalise on it, he said.
Vasu said the Chennai unit would start with manufacturing 3000 welding machines. As many as 70% of the parts would be sourced locally, which would reduce the cost considerably.
The machines produced here would also be exported to Asian and Middle east markets, he said.
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First Published: Wed, Jan 19 2011. 03 53 PM IST