Despite slowdown in automotive sector, Germany's LMT Toolas, a precision tools manufacturer for automotive industry has set up a plant in Chakan. The company has invested Rs 40 crore for this facility. It will manufacture 850 to 2000 hobs per month. This will mainly cater to motorcycle as well as all the major OEMs. LMT will export 60 per cent of its production to Europe and China.
Commenting on this, S Venkatsubramanian, managing director, LMT India said, "The reason behind opening this facility in Pune is to establish a closer network with our customers and achieve quick turn around times on product side. This is the only manufacturing unit outside Germany. Majority of the production will be exported to Europe and China. Slow down conditions are not going to affect us because there is a huge demand for our products form Europe and China as well as from India. We are supplying hobs to motorcycle manufactures like Hero Motocorp, Bajaj Auto, TVS Motors, Honda and other passenger car manufactures in India."
The company is importing all the raw material required for manufacturing tools.
He further adds, “Precision tools have been playing a key role in industrial production. At the interface between machine and workpiece, precision tools increase the efficiency of manufacturing processes and often these tools make the machining of demanding new materials economically viable in the first place. The markets for tool specialists are also growing with the ongoing globalization of industrial manufacturing processes. We intend to widen our range of products that is being manufactured at our facility.”
LMT India also caters to sectors like wind mill and aerospace industries.
