With aggressive business plans for India, Japanese power tools manufacturer Hitachi Koki Friday announced that it has rebranded itself as HiKoki.
Revealing the business plans, HiKoki India Executive Director and secretary Dattatreya Joshi said the company foresees growth opportunities shifting to Tier II and III cities.
"We are looking to strengthen our base in this area and increase our market share. We are aiming to make India our growth engine for the coming years," he told reporters here.
He said that during 2017-18 fiscal, HiKoki India sold 3.6 lakh tools and aims to sell four lakh tools in the current financial year.
"We have a pan India presence with over 100 outlets all over the country," Joshi said.
Already having a manufacturing unit in Peenya, the company aims to expand its manufacturing facility as part of the Centre's call for 'Make in India' and shift some of the facilities from China to India.
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Joshi said, Maruti Suzuki, Toyota, L&T, Tata Motors, Ashoka Leyland are among their clients.
This apart, the company has sold its products to BHEL, BEML, Alstom and Tata Steel.
They also aim to launch new technology multi-volt tools with plans to introduce Do-It-Yourself and affordable cordless power tools.
The company, which presently has 250 employees, intends toincrease its head count in India by 15 per cent and achieve 1,000 dealers in India by 2020, Joshi said.
"We manufacture more than 50 per cent of domestic requirement by volume. We also export tools to Bangladesh, Nepal and Sri Lanka.
Select components were also exported to other HiKoki subsidiaries in Malaysia and Japan," he said.