Will produce systems for the automotive, telecom, oil and gas segments
Hydraulics-maker Parker Hannifin, on Tuesday, opened its first manufacturing facility here, in a bid to ramp up its India operations.
The company has invested Rs.100 crore over the last two years in setting up the facility, located at Mahindra World City, which would cater primarily to domestic demand.
“This is completely in line with our overall goal of doubling our revenue over the next five years and having the Asia-Pacific region contribute 20 per cent of total sales — up from the current 10 per cent,” said Tom Williams, Executive Vice-President and Operating Officer, Parker Hannifin Corporation.
“Our new facility will help enhance support to our clients locally and are planning on ramping up employment to 300 persons from the current 150 or so as well. This facility, in particular, will produce systems for the automotive, telecom and oil and gas segments,” he added. The company has, at present, eight manufacturing facilities spread across the country and its revenue contribution from India is to the tune of $130 million.
In addition to its core product sectors of mining, filtration, and aerospace, Parker Hannifin is also looking towards the life sciences and renewable energy spaces.
“I think fields like life sciences; respiratory devices for instance, are something we are definitely going to focus on in the future. Renewable energy as well, we would love to provide the hydraulic controls for wind turbines,” said Kurt Keller, President, Asia Pacific Group.