Business Daily from THE HINDU group of publications
Tuesday, May 12, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, May 12, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Corporate
-
New Projects Lincoln Electric’s Chennai plant goes on stream 
New plant: (from right) Mr John M. Stropki, Chairman and CEO, Lincoln ElectricHoldings, Inc; Mr Leo A. Landers, Vice-President, South and South East Asia, LincolnElectric Asia Pacific; Mr Ganesh Gurushankar, Managing Director, South Asia, LincolnElectric India and Mr Thomas A. Flohn, President, Lincoln Electric Asia Pacific, at ameeting at Mahindra World City, near Chennai on Monday. -Bijoy Ghosh Our Bureau Chennai, May 11 Lincoln Electric Holdings, Inc., a $2.5-billion company, today began its operations at the welding consumables facility in Chennai. The 114-year-old, US-based welding equipment and consumables company has invested $20 million (Rs 100 crore) for setting up its first welding consumables manufacturing unit in India. In the first phase of operations, the plant is expected to produce about 80,000 tonnes a year. Addressing a press conference at the new manufacturing unit at Mahindra World City, Mr John M. Stropki, Chairman and Chief Executive Officer, said that in two years, Lincoln would commence work on the second phase, which could see the facility’s capacity double. Multiple facilitiesHe also hinted that the company would look at multiple manufacturing facilities in India, over time. Officials of Lincoln Electric Company (India) Pvt Ltd said that the Indian market for welding consumables is about $650 million (Rs 3,250 crore). Given that there is a need to build infrastructure, Lincoln sees a big business opportunity. In India, its products will compete with those of established players like Esab. There are many other companies that produce low-end welding consumables, such as stick electrodes, which are used in manual welding. User industries such as automobiles are moving towards semi and fully automated welding, where welding wires in spool form are used. Lincoln manufactures these products here. Lincoln Electric is “open minded” about acquisitions in India, the company’s officials said. More Stories on : New Projects | Bearings | tings & Forgings
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
