Parker Hannifin Corporation, the global leader in motion and control technologies, today inaugurated its Rs 100 crore green field manufacturing facility near Chennai. The facility is built on a ten acre plot in Mahindra World City. The new manufacturing site will focus on production for the Filtration, Pneumatics and Drives, Sealing and Shielding businesses.
The new facility will manufacture a broad range of products and systems for segments such as automotive, off highway mobile, telecom, oil and gas, mining, and primary metals, according to company's statement. The Chennai facility targets the employment of 300 people in the next 2 to 3 years. With this facility and acquisitions Parker Hannifin India plans to double their revenues within the next 5 years.
Tom Williams, executive vice president and operating officer, Parker Hannifin Corporation in a release commented that the inauguration of the company's first green field manufacturing facility at Chennai and localisation of the products demonstrate company's commitment to India as a key growth market. The facility will enhance our ability to support our customers locally here as we build our presence in new markets in India.
Expanding business in Asia, and specifically India, represents a significant aspect of Parker’s future growth strategy. Asia represents approximately 10 per cent of our sales today but over time we would expect that to be as much as 20 per cent as our target is to double our business in the region over the next several years. A significant portion of our growth efforts in the region will be focused on India, as this country will play a critical role in our success in achieving these goals, Williams added.
Parker Hannifin is committed to investments and long term growth in India. As part of the growth strategy, Parker has made five strategic acquisitions in India in the past two years and nine since 2005.
Arijit Sen, Country Managing Director, Parker Hannifin India added additional manufacturing capacity at Chennai will help the company to cater to the demand for high quality products, engineering solutions and systems in India.
"We have currently only built the first phase of the project in Chennai of 166,000 square feet and we expand further by 100,000 square feet in the second phase.”
The Chennai facility is designed as a Green Building and is in the process of being LEED certified. This emphasizes Parker’s commitment to providing a comfortable and healthy working environment and to using eco -friendly material and improved water & energy efficiencies.
