Belgium's Bekaert to ramp up India operation
World's largest steel wire maker Bekaert SA on Wednesday said it will ramp up its activities in India through a host of initiatives, which include greenfield and brownfield expansions, joint ventures and outright acquisitions.
By PTI |
MUMBAI: World's largest steel wire maker Bekaert SA on Wednesday said it will ramp up its activities in India through a host of initiatives, which include greenfield and brownfield expansions, joint ventures and outright acquisitions.
"We have very ambitious plans for India. We will come out with our future plans in the next three months," Arnold Camelbeke, Managing Director, Bekaert Industries, the Indian arm of Belgium-headquartered Bekaert SA, told reporters.
The company on Wednesday announced a 50:50 joint venture with Mukund Ltd to set up a top-end stainless steel wire manufacturing facility in Lonand at an outlay of Rs 100 crore.
Bekaert started its Indian operations in 1996 by setting up a steel cord plant to cater to tire manufactures with a series of products. It also produces carding products for the textile industry.
The company recorded euro 14 million revenue last year from India and aims over euro 15 million this year.
"We are looking at various opportunities in India. This includes brownfield and greenfield expansions and joint ventures. We are open to outright acquisitions as well," Camelbeke said declining to give further details.
"India is one of the emerging markets. We see this market as an important one for us," he said. Employing over 200 people in India, the company also hosts an engineering and business development cell in Pune.
"We have very ambitious plans for India. We will come out with our future plans in the next three months," Arnold Camelbeke, Managing Director, Bekaert Industries, the Indian arm of Belgium-headquartered Bekaert SA, told reporters.
The company on Wednesday announced a 50:50 joint venture with Mukund Ltd to set up a top-end stainless steel wire manufacturing facility in Lonand at an outlay of Rs 100 crore.
Bekaert started its Indian operations in 1996 by setting up a steel cord plant to cater to tire manufactures with a series of products. It also produces carding products for the textile industry.
The company recorded euro 14 million revenue last year from India and aims over euro 15 million this year.
"We are looking at various opportunities in India. This includes brownfield and greenfield expansions and joint ventures. We are open to outright acquisitions as well," Camelbeke said declining to give further details.
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Bekaert manufactures more than two million tons of wire in its facilities spread across 26 locations of the world and had achieved combined sales of euro 3.2 billion in 2006. "India is one of the emerging markets. We see this market as an important one for us," he said. Employing over 200 people in India, the company also hosts an engineering and business development cell in Pune.
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