Lapp India targeting Rs 1,000 crore by 2020

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Lapp India is targeting to double its turnover to Rs 1,000 crore from the present Rs 500 crore by 2020, a top company official said today.
Lapp India, a 100 per cent subsidiary of the Lapp Group Germany, is a leading supplier of integrated solutions and branded products in the field of cable and connection technology.
Having started in 1996 with a manufacturing unit in Jigani, Bengaluru, Lapp India has provided about 120,000 KM per year of control, instrumentation, power and data cables along with connectors, accessories and end to end system to nearly 4,000 customers pan India across in 2014, Andreas Lapp, Chairman of the Board Lapp Holding AG, told reporters here.

The company has witnessed eight times growth since inception and has made turnover of Rs.500 crore, which is expected to cross Rs.1,000 crore by 2020, he said.
The company, which has completed Phase one of its second manufacturing unit in Pilukedi, Bhopal, is producing more than 216,000 km of single core cables per annum, catering mainly to the building cable segment, Lapp said.
The production area at Jigani was also doubled in 2014 and a new multi core line was commissioned in Bhopal with a total investment of over Euro five million, he said.
Despite the increase in demand for cables, be in industrial or home segments, there will not be any shortage for copper or aluminium in the long run, he said.

However, the company was importing copper from countries like Malaysia, for purity, which was not available in India, Lapp claimed.