The US-based fluid system component manufacturer Swagelok, which entered India in a big way by setting up sales and service centres in 1999, targets a 30 per cent increase in turnover from Indian operations in this calendar year. The company notched up sales of Rs 30-40 crore in 2003. |
"We manufacture tube fittings, valves, quick connects, hoses, welding systems and other components, but our core competence is high pressure gas handling equipment. With CNG gaining prominence in the country, we will look to step up our business in the country," said A C Gupta, country manager, of Swagelok Company. |
In Gujarat, Swagelok will look to play a major role in the pipeline laying, installation of CNG station and supply of conversion kits, Gupta said. "There will be an increased requirement for valves, fittings and the like when the gas distribution network comes up," said Gupta. |
At present, about five per cent of the company's revenues comes from providing equipment to the CNG sector. "Our business from the CNG field will more than double over the next two or three years," said Gupta. |
Amit Gami, managing director of the Vadodara Fluid System Component (one of the major centres of the company in the country, others being Mumbai, Delhi, Bangalore and Kolkata) said that with a host of companies readying to set up CNG stations in the state, the prospects for future growth is high. |
"In fact, the Ahmedabad-based Dresser and Co provided compressors for most of the CNG stations in Delhi and we look forward to supplying more components to them when they bid for compressors of Gujarat's CNG stations," Gami clarified. |
The premium fitting market in India is pegged at between Rs 1,600 and Rs 1,800 crore, and is growing at around 10 per cent a year. "We have a share of around Rs 40 crore in this market, which we believe has a tremendous potential to grow," said Gupta. He added that almost all major non software companies in the country use Swagelok fittings, which are provided with a limited lifetime guarantee. |