OBO Bettermann Holding GmbH &Co., a German manufacturer of lightning protection and cable management products, plans to strengthen its manufacturing presence in India over the next few years, top company officials said.
“The Centre’s Make in India initiative has given us the courage and motivation to look at India as one of the global production houses catering to other countries within the Asian continent,” said Thomas Butzek, sales director for China, India and Africa.
The Indian subsidiary OBO Betterman India, which has completed 10 years of operation, plans to invest an additional ₹50 crore over the next three to four years as part of its expansion plans, said K. Arul Prakash, MD. The company had already invested ₹80 crore over the last 10 years.
Expanding capacity
The fresh investment would be used for enhancing the product portfolio and production capacities by investing in plant and machinery, expanding the factory and adding warehouses in Mumbai and northern and eastern parts of the country, Mr. Prakash said.
“In the last five years 2013-17 (January to December), we had grown revenue by two times. Our aim is to grow 10 times in the next eight years. During the first half of 2018, we have already posted 56% growth over the corresponding period last year,” Mr. Prakash said.