Finnish elevator and escalator maker KONE is setting up its second manufacturing facility near here, to increase its market share, according to a top company official.
"We have bought the land as part of our expansion plans. It (the plant) is in planning stage. We are going to make a modern factory..." KONE Elevator India Managing Director Neeraj Sharma said.
The plant, to come up at the SIPCOT Industrial Park near Sriperumbudur would be spread across 18.5 acre, he said and added the capacity of plant would be 'doubled'.
KONE Elevator India, a subsidiary of KONE Corporation, has its first manufacturing unit at Ayanambakkam which is spread across 8.8 acre.
The company has over 20% market share in the elevator market, which is around 40,000 units per year, Sharma said.
Declining to reveal the investment figures for the proposed plant, he said it will commence operations by 2015.
The company has over 3,000 employees besides the R&D unit employing about 900 engineers, he said.
He added that with the setting up of new manufacturing unit, they are hoping to increase the market share. "Yes, we hope to increase it. That is our aim...", he said.
The plant, besides serving the local market would also look for export opportunities, as it would become KONE's one of the biggest manufacturing units in the world, KONE Corporation Executive Vice-President (Asia Pacific and West Asia) Noud Veeger said.
"We believe the (Indian)market will grow in excess of 10%...", he said.
KONE Corporation has six manufacturing facilities across globe and their India operation ranks among the top five, he said.
The company officials were here to unveil the new range elevators which they claim would be 60% energy efficient.
He said they would focus on three principles -- better eco-efficient, better rider-comfort, better design.