Makino India Lines Up Rs 150-cr Investment

Bangalore, April 24: | Updated: Apr 25 2002, 05:30am hrs
The $750 million Japanese machine tool major Makino’s fully-owned Indian subsidiary Makino India plans to invest Rs 150 crore in the country in the next three years. Addressing a press conference on the eve of the formal inauguration of the Makino India’s new technical centre here, KS Sankaran, head India operations, said the new investments would also cover the costs for setting up a software development centre and call centre.

The technology centre with an investment of Rs 36 crore would focus on locating global machine design, technical and application support, manufacture of critical components for machine centres, sourcing precision components and sub assemblies and R&D for machining processes and machine design.

Makino India started operations in 1996 has now grown into an organisation of 51 employees with a turnover of Rs 54 crore in the year 2002. The company hopes to achieve a turnover of Rs 130 crore with a staff strength of 120 by the end of 2003. Mr Sankaran said much of this revenue is expected from its newly established manufacturing facility. “The manufacturing facility is going to cater the needs for the parent company. It is basically a buy-back arrangement”, he added. Makino India officials said that locating manufacturing in countries like India and China would result in substantial saving in costs. On an average the saving is estimated between 30 and 40 per cent, an official said. According to a company official the software development cell and call centre would come up by 2004. Top officials of the company including Makino President Jiro Makino, Makino Asia President CVT Moh and others were also present on the occasion. The new facility will be formally inaugurated by the state chief minister SM Krishna on Thursday.