With the aim to be known as an operationally excellent growth company with a significantly increased market presence in India, Actuant India targets $50 million for its medium term.
Actuant India, a wholly owned subsidiary of Actuant Corporation USA, announced the launch of its manufacturing facility in Bangalore, India. The facility will support the company globally by offering value-added capabilities to drive business growth and accelerate operational excellence. The state-of-the-art facility is fully-automated and will initially start with assembling and manufacturing products for three of Actuant´s businesses namely Power-Packer, Enerpac, and Hydratight.
´We are delighted to announce the launch of our first manufacturing facility in India. We believe this further strengthens our commitment to source, produce and sell solutions specially designed to delight our local customers. We pride ourselves in operational excellence and ensure that our strategic growth initiatives are a balanced combination of organic and inorganic activities. Our strong focus on vertical markets such as infrastructure, energy, agricultural productivity and sustainability will fuel our plans going forward,´ said Varun Vijay Rao, Managing Director, India.
´India is a strategically high growth market for us and is an integral part of achieving our global vision of doubling our revenue every five years. The launch of our manufacturing facility is an important milestone for us and reiterates our efforts toward leveraging our global capabilities in order to customise them for the needs of our local markets.´ said, Robert C Arzbaecher Chairman and Chief Executive Officer.
Actuant India, headquartered in Bangalore in a facility spanning 16,000 sq ft, currently has an employee base of 90 employees. The company plans on increasing the workforce commensurate with its plans to grow Actuant India´s penetration of various product lines in the region. The new manufacturing facility, slated to be inaugurated on 30 October 2013, spans 25,000 sq ft with the option of scaling up to 100,000 sq ft. The state-of-the-art facility is fully-automated and will initially start with assembling and manufacturing products for three of Actuant´s businesses namely Power-Packer, Enerpac, and Hydratight.
The operations in the plant will include:
Actuant India has achieved approximately $10 million in revenue since its incorporation in India. The company´s medium term objective is to grow the business exponentially through a combination of organic and acquisition growth with an aspiration goal of $50 Million. With respect to inorganic growth, Actuant India has a defined acquisition strategy that combines macro drivers with the identified growth area verticals and is targeting companies in niche markets.
Actuant India´s vision is to be known as a growth company that is operationally excellent with a significantly increased market presence in India. In addition, to their commercial strategies Actuant India has established the Actuant Center of Excellence (ACE) to provide Engineering, IT, Marketing and Sourcing solutions to Actuant´s global locations.