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LMW to launch new products

Our Bureau

COIMBATORE, Jan. 18

TWO new products from the Lakshmi Machine Works Ltd (LMW) stable are expected to be showcased later this year.

Disclosing this to press persons, Mr. N. Venugopal, Vice-President, LMW Machine Tools Division, said the new products would be the first of their kind to be made by an Indian company. While he did not specify what the products were, he made it clear that they were at present being imported.

Mr. Venugopal said these products would cater to the needs of Indian and overseas buyers. He indicated that it would be an indigenous, fully automated machine for the high end segment and added that LMW hoped to achieve at least 50 per cent market share after the launch in August 2000.

Though a late entrant into machine tools, he said the company had so far succeeded in launching at least one product every year, since the inception of this division about a decade back.

According to Mr. Venugopal, though its products are priced high, LMW has been able to withstand the pressure, despite the entry of cheaper products into the Indian market. He said this was because it produced quality goods conforming to international sta ndards. He added that the company's products were comparable to the best Japanese or German machinery.