The company plans to internationalise the newly acquired valve facility as well as create engineering hubs in India to cater to the global demand.
Finland-based industrial equipment maker Metso Corporation is committed to continue acquisitions and investments in the country to further expand its operations.
The company, which is in India since the past 25 years, is planning to set up engineering hubs in India and internationalise manufacturing facilities here to cater to global demand.
Metso offers equipment and services for mining, aggregates, recycling and process industries.
Pekka Vauramo, Metso’s President and CEO, said that so far Metso has invested over more than Rs 800 crore in India. Out of the total investment, Rs 560 crore has been invested in 2018 alone, which was partly used for increasing the capacity of its manufacturing facility in Alwar, Rajasthan by 35 per cent and developing a 20,000-tonne capacity foundry in Vadodara.
Vauramo added that they are also building an additional factory at the Alwar plant, though it is at an early stage.
Metso, which began its operations in India through exports, are investing in the country to set up manufacturing facilities to cater to the local as well as international demand, he added.
Recently, the company acquired RMEBS valve business, a part of the privately owned Rotex Group. Vauramo said they are now planning to develop the facility to meet the international demand.
“Our exports account for about 20 per cent of Metso India sales, which has witnessed a rise of around 50 percent in the last 4 years. We export to around 60 countries. We now plan to internationalise the newly acquired valve facility as well as create engineering hubs in India to cater to the global demand,” ET was quoted as saying.
Metso’s sales in India in 2018 stood at Rs 1,606 crore. In 2018, Metso in India received orders worth Rs 2,385 crore which is nearly 8.4 percent of total Metso orders bagged, as against Rs 1,333 crore orders won in 2017.
The company currently has 1300 people across the country, out of which 700 have joined in last two years.