Having shifted its operations from Singapore to India recently, Swedish metal cutting tools manufacturer is planning to expand its base in India to capture business in the Asia Pacific region.
Considering the demand for cutting tools, it is gearing up the investments in infrastructure, manpower and marketing as well as in research and development. The company has acquired around 25,000 square meter land adjoining its existing production facility in Pune to expand its production capacity in the state.
Lars Bergstrom, group president & CEO, Seco Tools said, "Product innovation continues to be one of the key strategies for growth at Seco Tools. With the addition of new products that are being launched, we are continuously strengthening our product offerings to our customers."
He,however, did not disclose the financial details about the expansion.
Bergstrom further added, "As a part of our expansion drive, we are putting up the re-conditioning center in Pune which will be operational in the third quarter of 2013. This initiative will offer the complete solution for solid carbide tool reconditioning for all our customers in India which in turn will ensure the required dimensional accuracy and longer tool life for reconditioned tools."
Seco exports 70 per cent of its production from India and the company registered a turnover of Rs 230 crore in 2012. Currently, the Pune R&D centre works in close association with Seco's other R&D units in Sweden, Czech Republic and France.
