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Bangalore, Nov 13 : Cummins, the global engine player, is acquiring 300 acres in Phaltan region in Maharashtra to expand its operations in India, a top official of the company said.
Announcing the launch of latest generation tier III emission norm engines in Bangalore, Cummins India Ltd (CIL)industrial engine business unit vice-president Vikram Jaisinghani said the company has already acquired 89 acres while efforts are on to acquire the remaining lands. Declining to disclose the investments, Jaisinghani said all 11 entities of Cummins in India could utilise this 300 acres being acquired by the company. However, he said CIL, Tata Cummins Ltd (a 50:50% joint venture between Tata Motors and Cummins) and Cummins Turbo Technologies (CTT) would first establish their projects in this newly acquired area.
He said the company's India operations witnessed 20% growth in turnover in 2006 and is expected to grow at the same rate for the next five years on the back of bullish trend in infrastructure projects in the country. He also said CIL, a 51% Indian subsidiary of Cummins, is expected to record above 20% growth in the current year with the launch of new products in the below 100-horse power (HP) engine category.
But CIL might witness marginal erosion in net profit because of hardening rupee as the company has been exporting products worth around Rs 500 crore, he said.
The company has a market share of 70% in the above 200-HP engine category in the construction equipment segment. Now with the launch of new products the company is looking for 30-35% market share in the below 100 HP segment.
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