Shibaura Machine to invest Rs. 225 Cr in India; to double its manufacturing capacity
The Chennai based Shibaura Machine India Private Limited (SMI) is a subsidiary of Japan’s Shibaura Machine, the leading manufacturer of high-precision injection moulding machine in the world, has announced its plans to invest Rs.225 crore in India primarily to expand its manufacturing capacity in Chennai.
SMI has a world-class facility in Chembarambakkam, Chennai that manufactures about 1,200 injection moulding machines a year and its auxiliary equipment. The machines find their applications in automotive, electrical, household & furniture, material handling, medical, packaging, preforms, PVC, toys, writing instruments, and other industries. The company has a growing customer base in India and over 45 countries in North America, the Middle East, East & West Africa, and the SAARC region. With the new investment plan, the manufacturing capacity of SMI will be increased to 3200 machines a year in a phased manner.
Shibaura Machine India began its operations with the takeover of the plastics machinery business of Larsen & Toubro in 2012. Celebrating its tenth anniversary this year, the company has recently laid the foundation stone for the construction of a new manufacturing facility at a sprawling over 11 acres, adjacent to its existing plant. The new factory is expected to begin its trial production by November, 2023. In the next 3-4 years, SMI is expected to create new jobs, increasing the team size. In addition, about 50 MSME vendors will be developed to cater to the need of increased capacity.
Announcing its investment plan, Shigetomo Sakamoto, President, Shibaura Machine Group, Japan, said, “Our fresh investment will see doubling of production capacity, and rapid strides in the adoption of advanced material technology, control, mechatronics, and IoT in our Indian factories, in the next three years.”
In his comments, M. Kumar, Managing Director, SMI, said, “With the new investment, we will continue to grow our capacity and team. We will add new products, and increase our customer base, buoyed by the track record of being able to meet varied requirements of our customers and the stringent standards of importing countries USA, Africa, Middle East, South & Southeast Asia.”