http://www.thehindubusinessline.com/
KOLKATA, DECEMBER 2: – In October, Sandvik announced a plan to set up its sixth manufacturing base in India at $ 45 million (approximately 280 crore at current exchange). But that may not be the end of the investment proposals to the country.
According to Kobus Malan, President emerging markets, Sandvik Mining, the company is also relocating number of its global mining equipment facilities from USA and Europe to India and China as part of a two year business reorganisation plan that will be completed in the next fiscal.
“A number of factories in Europe and USA are to be closed down. They were acquired during the 10-year long mining super cycle when chasing orders were a priority,” Kobus Malan, President emerging markets, Sandvik Mining told Business Line on Wednesday.
Malan could not offer details of the factories to be relocated to India and China. He was in the city in connection with International Mining and Machinery Exhibition (IMME).
With commodity prices plummeting Sandvik is focussing on cost efficiencies and shifting its operations to the growth markets of India and China.
“We have formed a focussed group for the emerging markets of India and China,” he said adding that as the business process is on course to be streamlined further India (along with China) may get more investments.
Coal mining gear
Meanwhile, the company is expecting underground coal mining gear business to be a growth churner of Indian operations, beginning next fiscal.
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