IMI Precision India aims over 2-fold growth in 5 years

IMI Precision Engineering is expecting an over two-fold jump in its turnover in the next five years on the back of enhanced product and technical offerings, said a top company official.

The company, as part of its business expansion plans, on Thursday inaugurated its new 67,000 square foot facility at Noida, Uttar Pradesh, in which it has invested around Rs 50 crore.

This is IMI Precision Engineering's second largest manufacturing site in the Asia Pacific region and has been built to meet the demand for its branded products.

"We can double ourslef in three to five years time," IMI Precision Engineering- India Managing Director Kuldeep Bhan told PTI.

He further added: "IMI precision engineering india revenue is currently at Rs 100 crore. We are projecting it to increase by 2.5 times in the next five years."
IMI Precision Engineering Divisional Managing Director Massimo Grassi said: "This purpose-built facility in India places the company in an ideal situation to expand the business in the Industrial Automation, Commercial Vehicle,
Rail, Life Science, Energy, and Food & Beverage sectors."
Regional Managing Director for Asia Pacific Andrew Taylor said" IMI Precision Engineering is actively supporting the government's 'Make in India' initiative to promote manufacturing of products locally."