Cryolor SA sets up Rs 45 cr unit

Cryolor Asia Pacific, a 100 per cent subsidiary of France-based Cryolor SA, will inaugurate its manufacturing facility tomorrow (Friday). The facility at Melmaruvathur, about 100 km from here, involved an investment of around Rs 45 crore.

The facility will manufacture gas containers with capacities of 10,000 to 60,000 litres, Cryolor Asia Pacific Managing Director Ravin Mirchandani said.

The plant is spread over a 15-acre plot and would have an initial capacity to produce 300 containers a year on a single shift basis. This is the company's first manufacturing unit outside France

To start with, the company will employ 70 people and the products manufactured would have 60 per cent localised content.

It has set a target to achieve Rs 60 crore revenues by 2015. The new facility will also cater to export markets going forward. “About 50 per cent of the products we make here will be for exports initially and the focus will be West Asia and the Asia-Pacific region,” he said.