Parker Hannifin opens 'Parker store' in Chandigarh

Parker Hannifin India Private Ltd has opened a 'Parker Store' in Chandigarh. The firm is targeting the Punjab region, which has become the base for the IT sector. This apart, the region is home to pharmaceuticals, auto ancillaries, infrastructure, and other major electrical industries.

As an industrial retail outlet of fluid power products, the Chandigarh store is the ninth established in India. By 2006-07, the company targets coming up with 11 more stores all over India. "In the region we will be setting up another of our franchisee store in Ludhiana and a small window store in Baddi," said Viren.A.Joshi,Managing Director, Parker Hannifin India Private Limited.

He further added that in Chandigarh, Punjab, Haryana and Himachal Pradesh the company was targeting the infrastructure industry followed by pharmaceutical sector, health industry, steel. "We are trying to update conventional system in the pharmaceutical, health industry which is fast expanding in the region,"he quipped.

Parker stores are already operating in Mumbai, Calcutta, Delhi, Bangalore(2), Jamshedpur,Pune and Srilanka. The company plans to make its presence in Goa, Chennai, Nagpur, Baroda, Ahmedabad. The retail super market store will provide genuine Parker products and services,especially fast moving and critical products such as fluid connectors,hoses,climate and industrial components, seals and O-rings and automation.

"For now there will be no company stores and we will try to work with our distributors to be our franchisee. Ideal requirement for a store will be an area of 700-1000 square feet, with an investment of Rs 25 lakh,"said Joshi.

The company is likely to close this financial year with a turnover of Rs 200 crore and is targeting Rs 500 crore by 2008. For a company which believes in expanding via acquisition, 'geographical growth'(customers) and 'organic growth'( wide range of products), it should not be a tedious task according to Joshi.

With a manufacturing plant at Mumbai and Hyderabad,the company is in the process of acquisition of another unit, with negotiations going on in Mumbai.