Metso boosts its investments in India, eyes inorganic growth opportunities
Metso, a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries is strengthening its operations in India. Apart from investing EUR 70 million (INR 560 Cr) in the domestic market in 2018 by acquiring the valve automation division of Mumbai-based Rotex Manufacturers and Engineers and increasing the capacity of its Metso Park production facility in Alwar, the company is developing a 20,000-tonne capacity foundry in Vadodara.
Metso Park is among Metso's key global production sites delivering a wide range of equipment and a variety of service products for the aggregates, mining and process industries. This latest investment increases Metso's crushing and screening plant production capacity in India by 35 percent. With this expansion, the company will address the growing demand for crushing and screening solutions in the Indian market as well as improving the availability of products for exports to more than 60 countries. Acquisition of the valve automation division of Mumbai-based Rotex Manufacturers and Engineers enables Metso to address a wider scope of customer needs in flow control.
"India customers are now demanding more and better solutions and there has been a noticeable shift from being a price-sensitive market to a value-sensitive market. With a CAGR exceeding 30%, we are bullish when it comes to India. Moreover, exports accounts for 20% of Metso India sales, growth of almost 50% in the last four years. In 2018, Metso India received orders worth EUR 293 million (Rs. 2,385 Cr), a significant growth over 2017 when the order book of the company was EUR 166 million (Rs. 1,333 Cr). We hope to continue Metso’s growth story in the Indian market as it is one of the fastest growing markets for us”, said Pekka Vauramo, President & CEO Metso.
“Our Indian customers are becoming more technology-savvy and have strong entrepreneurial abilities. We at Metso are committed to continuously develop our capabilities to fulfill our customers' needs in the changing business environment”, added Vauramo.
Metso launched operations in India in 1992 and has since been developing a strong footprint in the market. Today, Metso is present in India with over 1200 employees in seven regional offices, of which, 700+ employees were inducted in the last two years. The company has five production units and foundries, and an extensive service and distribution center network across the country.
@EPC World Media