Ingersoll Rand Announces a New Greenfield Manufacturing Facility in India
Ingersoll Rand, a world leader in creating and sustaining safe, comfortable and efficient environments, announced plans to establish a third manufacturing facility in India. The company presently has two local manufacturing operations in Naroda, Ahme
Online, October 26, 2010 (Newswire.com) - Ingersoll Rand, a world leader in creating and sustaining safe, comfortable and efficient environments, announced plans to establish a third manufacturing facility in India. The company presently has two local manufacturing operations in Naroda, Ahmedabad, and Sahibabad near Delhi. The new greenfield manufacturing plant will be located in Southern India.
India is a key market for Ingersoll Rand. Earlier this year, the company announced an investment of $100 million in India over the next three years. Local manufacturing, innovation and market-centric product development are the key focus areas for Ingersoll Rand in India. The new manufacturing facility is part of the company's overall growth strategy to drive innovation, technology and product development in areas such as Food Preservation, Energy Efficiency, Climate Control, and Security Technologies.
Speaking on the occasion, Mr. Michael Lamach, chairman, president and chief executive officer of Ingersoll Rand said, "India is a strategic market for Ingersoll Rand and is fast emerging as a hub for innovation and product localization for emerging economies. With the new manufacturing facility, Ingersoll Rand India will be better positioned to achieve our growth goals for emerging markets and better able to serve our customers with localized products and services."
The company is currently evaluating two strategic locations in Southern India for the new manufacturing facility. The facility will primarily cater to manufacturing products for the Heating, Ventilation and Air Conditioning (HVAC) industry. It will also focus on products for Transport Air Conditioning and Food Security.
Talking about the new greenfield manufacturing facility, Mr. Venkatesh Valluri, chairman and president, Ingersoll Rand India said, "The new manufacturing plant will help Ingersoll Rand India achieve greater speed-to-market with innovative new products specifically for emerging economies at relevant price points. It also reaffirms our commitment to providing energy-efficient and sustainable solutions for local and emerging markets."
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) is a world leader in creating and sustaining safe, comfortable and efficient environments in commercial, residential and industrial markets. Our people and our family of brands-including Club Car®, Hussmann®, Ingersoll Rand®, Schlage®, Thermo King® and Trane® -work together to enhance the quality and comfort of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties, and increase industrial productivity and efficiency. We are a $13 billion global business committed to sustainable business practices within our company and for our customers. For more information, visit www.ingersollrand.com.
About Ingersoll Rand India
Ingersoll Rand India is based out of 18 locations in the country. The company is listed on the National Stock Exchange of India and on the Bombay Stock Exchange. In India, Ingersoll Rand is working on three key areas - "Productivity" by leveraging its local manufacturing operations in Ahmadabad and Sahibabad, "Innovation" through its engineering R&D centers in Bangalore and Chennai and "Growth" through the expanded footprint it has in the country. Ingersoll Rand is committed to India and recognizes it as a large market.