Bangalore-based 3M India Limited, the Indian arm of San Francisco-based 3M Corporation, will increase the capacity of its Ahmedabad facility by three-fold at an investment of Rs 27 crore. The company manufactures corrosion protection products at its Moraiya plant, near here.
The plant currently employs 39 people. It has expanded its current facility to accommodate another production line to meet the demand, said Linn Veltema, senior executive director, total supply chain, 3M India Limited.
“The expanded facility will add to 3M India’s local manufacturing capabilities and will help us address the growing demand for corrosion protection products in both domestic and international markets,” said Veltema, refusing to divulge capacity details of the plant.
The company is not only eyeing the strong oil and gas sector in the region, but will also supply products for key markets in the Gulf region, Africa and Europe.
Nationally, 3M India is investing Rs 80-100 crore for ramping up capacities at its various manufacturing facilities like Bangalore, Puducherry, Pune and Ranjangaon.
Annually, around 70 new products are being launched by 3M India, Veltema said. “Roughly, 30 per cent of our revenue comes from the new products launched in last four years,” she added.
The company has invested Rs 37 crore in the last five years in the Ahmedabad facility.