Schwing Stetter India to inaugurate new plant

The commissioning of the new plant and the resultant freeing of capacity in the old one will double the company's production of truck mixers, portable pumps, concrete mixing plants and others.

The company is a wholly-owned subsidiary of the German company Schwing Stetter Gmbh. The German company has invested around Rs16 crore in India since the latter was set up in 1999.

The new facility will also come handy for the company once the German parent decides in 2005 to source some machinery for its global market.

Speaking about the performance of the Indian subsidiary, Jochen Goerlich, chairman, Schwing Stetter said, "Of the eleven units we have in the world, the Indian unit has achieved the fastest growth and has become profitable. The Indian company has the potential to notch up a turnover of $100 million soon."

The German company is in the process of finalising the couple of new prototypes of boom pumps. Once that is done, the company would decide as to what it would source from India for its global market. Presently the Indian company exports to neighbouring countries and is bound by market access restrictions placed by the parent company.