INDIA: India will emerge to be a key growth market for German based igus GmbH, the world’s leading manufacturer of energy supply systems including cables and all accessory components. The company also pioneered research in the field of tribopolymers and today leads the world market in the field of high performance polymer bearings.
In an event to mark completion of 10 years of its successful operations in India, the company announced a slew of significant initiatives and growth plans for the India market, a decade which also marks igus efforts of having introduced, educated and grown the Indian market for innovative use of plastic technology in dry-tech bearings, high flexible cables and energy supply chains.
Today, igus supplies to diverse and fast growing sectors such as automotives, machine tools, robotics, medical, packaging, steel, food, textile, material handling, ports, cement, mining, energy, etc.
igus India grew nearly 25 times in the Indian market in the last 10 years and close to 40 percent growth in the last financial year- net sales in the country is expected to close at an estimated 60 crore at the end of FY 2012-13.
igus India ranks first among its subsidiaries in growth percentage continuously for the last couple of years and top 10 fast growing markets for Igus globally. The company expects to double its growth in the country over the next three years to establish its undisputed leadership in the market for plastic bearing, high flexible cables and polymer cable chains. igus is continually investing in India, to both enhance its sales organization as well as infrastructure for assembly, storage and distribution. It looks to expand its current network of 11 offices to over 16 across regions in the coming year and will double its sales force to support the growth plans.
igus India, from day one since inception, has remained debt free and on a strong growth path, continuously investing into the local operations and the availability of the large igus’ delivery program for our customers in India from 24 hours.
"To further support our growth plan and maintain the leadership position igus GmbH in the near future would look at investing in a state of art factory with the highest production standards based on lean methodologies” said Marc Poensgen, head, International Group Development – Asia, igus GmbH.
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