Category — Industrial Goods
Chennai India-based Sundaram Clayton Limited, a leading supplier of aluminum die castings to the automotive and non-automotive sectors, announced that it will establish its first American unit in Dorchester County, South Carolina, at an estimated cost of $50 million.
The company has acquired 50 acres of land for its new facility, where it will manufacture aluminum high-pressure die-cast products and permanent mold gravity cast parts for its customers. The Indian Express reports that construction work is expected to begin by April this year and the first production line is projected to be operational by the end of next year. The factory will create 130 new jobs over the next five years.
“The United States has always been an important market for us,” Lakshmi Venu, Sundaram-Clayton’s managing director, said in a statement. Venu said the company decided to invest in South Carolina to better support its U.S. customer base.
February 10, 2017 No Comments
In an interview with the Economic Times’ Healthworld, Dr. Richard M. Eglen, vice president and general manager of Corning Life Sciences, discussed the company’s business growth in India.
On Corning Life Science’s business in India
Eglen: India is one of our fastest growing markets in the Asia Pacific region. As a market, India has shown great potential and continues to grow significantly and drive growth for Corning Life Sciences outside of the U.S. With India’s population slated to reach 1.4 billion by 2022 (per the 2015 UN Report on World Population), this growing population demands not only large-scale production of vaccines, but also research for newer vaccines relevant to India.
Corning’s bioprocess products provide a full range of tools to successfully perform vaccine scale-up and production. Our cell culture products are of great interest to Indian pharmaceutical companies.
On Corning’s India’s revenue share
Eglen: The total sale of Asia represents over 50% of Corning’s total sales of US $ 9.1 billion worldwide in 2015. We can also tell you that we have more than doubled our revenues in India since 2009. 2015 was our strongest performance in Corning Life Science India history and we have kept the momentum going in 2016.
On future plans for the Indian market
Eglen: The Indian pharmaceutical market is currently at $25 billion and is expected to continue to grow at a CAGR of 12% till 2020. India is 3rd largest pharmaceutical market in the world by incremental growth and 7th largest by volume which gives Corning Life Sciences an immense growth opportunity. We have opened a warehouse for life sciences products for Indian customers in Mumbai which shows our commitment to be a reliable supplier for our customers in India.
December 29, 2016 No Comments
AkzoNobel a Dutch multinational company in paints, coatings and specialty chemicals has set up a first-of-its-kind Specialty Coatings production facility and color laboratory in the satellite town of Noida 15 miles from New Delhi, reports BusinessWire, India.
Alberto Slikta, managing director, Specialty Coatings, AkzoNobel, said, “India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India.”
AkzoNobel India has been operating in the country for over 60 years. It currently has six manufacturing sites, two research centers, and a network of over 8,800 dealers and distributors.
December 28, 2016 No Comments
Startup Flutura, located in Bangalore, India, makes an IoT product that captures data streaming from various sensors on machines to analyze their health and predict problems. Derick Jose, co-founder of Flutura, describes its IoT product Cerebra as a “Fitbit for machines.”
The Cerebra platform connects assets used in industries to correlate, analyze, make intelligent predictions and provide actionable insights with the data it receives from the assets to help create smart factories, reports Forbes.
In the U.S., Cerebra IoT Signal Intelligence harvests asset signals for a leading airport reducing millions of dollars in delays; it effected revenue generation of $120 million across the first 3 years for a large Houston-based oil and gas OEM; it optimized vessel speed to minimize Total Fuel Consumption to improve the performance of vessels. This resulted in savings of up to $300,000 per year for large vessels for the largest North American Vessel Classification Society.
October 13, 2016 No Comments
Swiss financial services company, Credit Suisse recently spent time in India to ascertain the status of mineral resources and commodities. “India looks to be firing at last,” was one of the headings in the bank’s report. The investigators had meetings with government agencies and companies in Delhi, Kolkata and Mumbai, focusing on demand for bulk companies such as coal and iron ore,as also fertilizer and aluminum.
The bank remarked that the best opportunity for miners looking for market opportunities in India, was copper since India had limited supplies of the mineral. It also warned against selling iron ore and coal to India since with problems of bulk commodity distribution being overcome, India was self sufficient in these minerals, reports Forbes.
“We came away convinced that India really is on the cusp of a major growth phase,” the bank said. “Companies pointed out the positives they see from government policies; an anti-corruption focus, a level playing field without favoritism, clear high level policies, and government ministries and State-owned companies driving to implement the policies, and overcoming many problems of the past.”
September 27, 2016 No Comments