| Date: |
06-11-2014 |
| Subject: |
Danfoss India inaugurates Rs 500cr facility in Oragadam |
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CHENNAI: Denmark-based energy efficiency and climate solutions company Danfoss will soon make its India subsidiary a global manufacturing cum export hub for its regional subsidiaries. Danfoss India, on Wednesday, inaugurated its new manufacturing plant in Oragadam near Chennai, with an investment of Rs 500 crore.
"India being a high-growth market for us, we started our `Make in India` initiative two years ago. We are pleased to commence our manufacturing at the right place and at the right time and believe this will enable Danfoss India operations to become the export hub for Asia-Pacific markets" Niels B Christiansen, President -CEO, Danfoss said in a statement. The manufacturing plant will make components for the refrigeration and AC control systems, and will be sourcing products locally. "There is an export oriented unit and 80% products will be exported to China, Middle-East and Asia-Pacific markets, while the rest will be used in India," Ravichandran Purushothaman, President of Danfoss India said.
Source : timesofindia.indiatimes.com
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