Elgi Equipments has launched an initiative to promote advanced technology and nurture innovation in the domain of compressors and related areas.
It conducted Technology Day programme here on Saturday and launched the initiative “State of the Future Art”. About 200 employees of the company, students, and industry representatives took part. The employees showcased major technology breakthroughs of the company.
The programme included a panel discussion. Sessions were held in colleges in Coimbatore and Chennai and three papers were selected for presentation by students on Saturday.
Jairam Varadaraj, Managing Director of Elgi, told presspersons, “The idea is to make this initiative a world-class event where technologies are incubated.”
“The State of the Future Art is an Elgi initiative aimed at identifying and developing advanced technology and nurturing innovation,” he said in a press release.
Elgi is the seventh largest player in the global compressor market and the second largest in the domestic market. It wants to be the second largest player in the global air compressor market by 2027, he said. Elgi spends 2 % to 2.5 % of its revenue nominally on research and development. It plans to shift the facilities in Coimbatore city to the new campus at Kinathukadavu in three to four years. “Every year the on-going investments towards capacity, quality and productivity is ₹40 crore to ₹80 crore. This year the company has invested ₹30 crore to ₹35 crore,” he said.
