ABUS to invest Rs 300 crore to set up manufacturing unit in India

NEW DELHI: German lock manufacturer ABUS today said it will invest over Rs 300 crore in setting up a manufacturing facility in India and is in talks with various state governments to fix a location.

The company said that it would also invest in establishing training centres in about 28 cities and in imparting skills to employees.

"The company will be investing more than Rs 300 crore in setting up its manufacturing facility and is in talks with state governments for finalising the location," ABUS KG Chairman and CEO Christian Mremicker said here at a function.

He said that the firm would employ over 1,500 people by December next year. About 50 per cent workers would be women.

"Indian security market is the fastest growing in the world at 36 per cent...We will be setting up our operations in 28 cities by December 2014. We will also set up a research and development facility in the country and India will be the third country outside of Germany to have an ABUS test lab," he added.

ABUS India Head Kaushik Moulik said that India is one of most exciting markets for the security industry.

The company started its India operations in 2011 and has presence in Bihar, Jharkhand, Orissa, West bengal and Assam.

The company said that as part of the national roll-out, it would expand operations in almost all the states. Locks would be retailed in most of the retail outlets.