Mold-Masters, a Canada-based manufacturer of advanced hot runner systems for the plastic mould sector, opened its manufacturing facility here on Wednesday.
Investment
President and Chief Executive Officer of Mold-Masters Jonathon Fischer and its Executive Vice-President for Sales and Operations Patrick Bennett told The Hindu here on Wednesday that the facility would cater predominantly to the Indian market. It could supply to South and Southeast Asian markets too.
The company had invested $2.3 million (about Rs. 10 crore) to create the capacity. The facility on a one acre site here had scope for future expansion.
Mold-Masters products were available in the Indian market since 1994. Sales here in 2010-11 are expected to be $7.5 million and touch about $20 million in another 3-4 years.
The company opened a global design centre in Coimbatore in 2006 and employed about 120 people. To start with, the new manufacturing facility would employ 16 people and it would move upward of 40-50 by the end of the year. The main reason for opening a manufacturing facility here was to bring down the cost and time taken for delivery.
Mold-Masters had three main manufacturing plants in China, Germany and Canada and regional facilities in India and Brazil. It was present in about 45 countries for sales and service. Some of the main customer sectors in India for Mold-Masters were fast moving consumer goods, electrical and electronic and automobile, they said.
