Amadasoft to set up vocational training institute in B'lore

Amadasoft India Pvt Ltd, a 100 per cent subsidiary of Japan-based $2 billion Amada Co Ltd, is planning to invest around Rs 50 crore in Bangalore. The company has signed a memorandum of understanding with the Karnataka government for setting up a vocational training school and a parts manufacturing unit in the state.

“Our target is to reach Rs 400 crore in the next three years. This will be achieved by setting up the engineering centre, parts manufacturing and warehousing in Bangalore and diversifying into new areas including railways, agriculture, mining construction, aeronautical, semi-conductor and ship-building,” said Thangapandi Periasamy, president and chief executive officer, Amadasoft India Pvt Ltd.

Currently, the company is headquartered in Mumbai, which will also be shifted to Bangalore.

It is also scouting for acquisition of assets in India for setting up a manufacturing facility three to four years down the line.

The metal working machine manufacturer and solution provider started its operations in India in 1996 and reported a turnover around Rs 160 crore in 2009-10, from Rs 250 crore two years ago. The company attributed the drop to the financial crisis.

Commenting on the software development business, Periasamy said India was an important destination for the group to source software from. According to him, 85 per cent of the software are sourced from India. Last year, its software division clocked a revenue of Rs 30 crore by catering to other units of the group across the world.