Parker Hannifin Corporation, a global leader in motion and control technologies, on Tuesday inaugurated its Rs 100-crore greenfield manufacturing facility near here. The facility has come up on a 10-acre plot in Mahindra World City. It will manufacture a broad range of products and systems for segments such as automotive, off highway mobile, telecom, oil and gas, mining, and primary metals, according to a release. The Chennai facility is targeting to employ 300 people in the next 2 to 3 years.
Arijit Sen, Country Managing Director, Parker Hannifin India added additional manufacturing capacity at Chennai will help the company to cater to the demand for high quality products, engineering solutions and systems in India. “We have currently only built the first phase of the project in Chennai of 166,000 square feet and we expand further by 100,000 square feet in the second phase.”
After they together paid Rs 12 lakh to settle charges related to alleged delay in amending insider trading norms