GapCon GmbH, a subsidiary of Irle Deuz based in Siegen, will invest Rs 10 crore for setting up an unit at the Kalyani Industrial Centre.
A lease agreement between West Bengal Industrial Infrastructure Development Corporation (WBIIDC) and GapCon was signed today, in which WBIIDC handed over 2 acres to the company for setting up its unit.
“GapCon will set up a compensation roll and calendars centre at Kalyani. We hope that the unit will act as a catalyst for industrial; growth by providing technical assistance,” said Nirupam Sen, West Bengal minister for commerce and industries.
Production at the paper unit will commence by October 2011, said Wolfgang Wiertz, Director and Managing Director of Gapcon GmbH.
“West Bengal provides us with logistical advantages. The centre will be the headquarter in Asia and will cater to the markets in the Asia-Pacific region. Demand for compensation rolls has seen a growth of 15-20 per cent year-on-year,” Wiertz said.
While admitting that the size of the Gapcon operations is relatively small, Wiertz stressed on the importance of the foray, given that it is the first instance of transfer of technical know-how. The unit itself will focus on assembling crown compensation rolls.
“India in general, and West Bengal in particular, is attractive investment destinations, given stable growth trend, along with the fact that the laws are clear. Logistically, the location suits our operations,” said Wiertz.
Irle Deuz is the largest casting company with a €90 million with a history of 120 years.
The €25 million Gapcon GmbH is headquartered in Willich near Dusseldorf. With the unit at Kalyani, there will be a growth of ancillaries, said Sen.
