Weiss Technik launches India subsidiary
Weiss Technik India Private Limited, the Indian subsidiary of German-based Schunk Group, is aiming to focus more on the country’s automotive, defence and aerospace sectors.
“India is a growing market and we will focus more on Indian automation, aerospace and defence industry," said MA Gaffar, managing director of Weiss Technik India.
Weiss, which started India operation in 1978, today formally launched its Indian subsidiary, Technik India Private Limited, to spearhead its country’s operation from Hyderabad. It sells environmental simulation systems, which permit preliminary testing and continuous improvement of product and material functionality, stability and quality.
Its products are used by vehicle manufacturers, electronic, pharmaceutical, aviation and aerospace industries.
So far, it has done 700 installations here across 450 customers, including DRDO, Isro,Tata Motors and Maruti Suzuki.
The current environmental simulation systems market size in India is around Rs 100 crore and is expected to reach Rs 200 crore in the next five years.
“We have a 45 per cent market share in this segment in India. We will expand our presence and by next year we hope to add another 15-20 engineers to our current 50 employees,” he added.
India currently contributes around 3-4 per cent to its global operation, said Franz J Niedermeier, managing director of Weiss Group said. The company imports its products its manufacturing facility in China.
“The Asian market is growing at 10-15 per cent. We hope India also will play a major role in stimulating the growth in the Asian market,” he said.