K. T. Jagannathan
Plant to be located at Sriperumbudur
Unit will go on stream by early 2008Company will invest $14 m in the project
CHENNAI: The $1.8 billion Modine Manufacturing Company of the U.S. has decided to set up a production base in India.
A fully owned subsidiary in the name and style of Modine Thermal Systems Private Ltd. has already been set up to facilitate its India foray. The Indian facility will come up at the Sipcot Phase II industrial estate at Sriperumbudur near here. It will come up on a 5.5-acre land with a built up area of 80,000 sq. ft. The investment in the plant will be around $14 million.
In an interview with The Hindu, David B. Rayburn, President and Chief Executive Officer of the company, said he expected the unit to go on stream by early 2008. The India facility would make three kinds of heat transfer devices radiator cap and charge air cooler for engines, air-conditioning system for buses, and components for large engines. The air-conditioning system was currently imported from Korea. The engine component made in India (though small in terms of business) would be exported to Europe, he said. The plant could provide jobs to 125-150 people initially. This number could go up to 300 over a period, depending on the growth in business, he said.