Grundfos Pumps India on Thursday inaugurated its phase II plant at Thoraipakkam here. The company has invested around Rs 17.6 crore in the project.
The facility comprises material handling equipment required to handle pumps and components in manufacture, assembly and storage operations.
The company also said it had bought 16 acres of land near Sriperambudur to construct an additional production facility. Work on the project is expected to commence in 2011, said Grundfos Group of Denmark senior vice president Carlo Parola. He declined to comment on the proposed investment in the facility.
While group’s revenue was down nearly 10 per cent, Indian subsidiary grew around three per cent over the previous year, he said. During the calendar year 2009, Grundfos India reported revenues of Rs 208 crore compared with Rs 201 crore in the previous year. The group as a whole reported revenues of Euro $2.3 billion.
