US-based welding equipment manufacturer Lincoln Electric Holdings Inc on Monday inaugurated its $20 million (around Rs 100 crore) welding consumables manufacturing unit at Mahindra World City, a special economic zone (SEZ), near Chennai.
Speaking to reporters, John M Stropki, chairman and chief executive officer, Lincoln Electric Holdings, said the 100,000 sft unit’s capacity would be 10,000-15,000 tonnes per annum and could be increased to 70,000 tonnes.
Upon achieving full capacity, the company is planning to capture 45 per cent of the country’s welding industry, which is currently estimated to be around $60 million (around Rs 300 crore). Stropki did not commit any time frame to achieve the full capacity.
The company is looking at catering to the medium segment customers where the demand is high. The company will also target end user markets like automotive, pipelines and power generation industry, including windmill fabrication.
