Sandvik has decided their India growth strategy to increase market penetration and market share in India. The company has announced acquisition of new land of 50 acres for Sandvik Asia and projects significant investments including R&D by 2016. Sandvik continues to successfully add new products to its portfolio for Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology and Sandvik Construction.
The company has recently launched 160 D Surface Rock Drill locally designed, sourced and manufactured for Indian market, mainly for medium size industries. This is one of the first developments from the engineering and design centre for mining and construction, which will now be enlarged to include about 15 designers in the first phase in Pune. This will be complimented by a strengthened team in Bangalore, Kolkata, and Gurgaon. Besides, the R&D team and Patancheru (Hyderabad) will continue to grow in-line with global requirement of specific types of rock excavation tools.
Ajay Sambrani, Managing Director, Sandvik Asia, said, “We have identified mining and construction as a major growth area in India, which will make significant contribution to the company’s top line and would become the largest business area in Sandvik Asia in a short time. In this context, it must be mentioned that India is becoming an important global source for components, assemblies, materials, spares and consumables, etc. which are required for the group’s manufacturing of mainly mining and construction equipment.”
Olof Faxander added, “Sandvik’s overall focus is to provide added values to ensure the customers’ enhanced productivity, higher competitiveness and increased profitability.”