Plant will manufacture miniature circuit breakers.
ABB, the global power and automation technology group, announced on Friday that it will invest approximately $24 million (Rs 115 crore) in a new facility in India to manufacture a new range of Miniature Circuit Breakers (MCB), Residual Current Circuit Breakers (RCCB) and Surge Protection Devices (SPD).
The new manufacturing facility will be set up in Nelamangala campus at Bangalore and employ around 300 people.
“This is our biggest investment worldwide in 2011, with the motive to support the market growth in India with the availability of high quality products and state-of-the-art training centers and facilities,” said Tarak Mehta, head of ABB’s Low Voltage Products division.
Tommy Andreasson, manager of the Low Voltage Products division in India added, “With focus now on India, this investment is targeted to meet the customer requirements of the local market.”
ABB’s low voltage products division in India has delivered 25 million poles to the domestic market through wholesalers and a network of channel partners.
This investment will increase the production capacity to serve both domestic and export markets.
The plant will manufacture a new range of protection devices used in residential and commercial buildings, industrial and renewable energy applications, data centers and telecommunications industries to protect installations against over current, short circuits and leakage current.
ABB has posted a more than nine times rise its net profit to Rs 59.54 crore in the first quarter of CY11 as compared with Rs 6.63 crore reported in the corresponding period last year.
Total income has increased by 21.89 per cent to Rs 1800.5 crore during this period.
