Shibaura Machine has doubled its production capacity by investing Rs 225 crore in India. | So Good News
Updated: November 25 2022 14:42 IST
Chennai (Tamil Nadu) [India]Nov 25 (ANI/NewsVoir): Chennai-based Shibaura Machine India Private Limited (SMI), a subsidiary of Japan’s Shibaura Machine, the world’s leading manufacturer of high-precision injection molding machines, has announced plans to invest Rs. 225 crore in India mainly to expand its productivity. in Chennai.
SMI, Chennai; Chembarambakkam has a world-class facility that manufactures about 1200 injection molding machines and its ancillaries per year. Machines are automobiles, electricity household appliances and furniture; material handling, medical packaging preforms; PVC toys Finds their applications in stationery and other industries. The company has a growing customer base in India and North America; Middle East More than 45 countries in East and West Africa and SAARC region. With the new investment plan, SMI’s production capacity will be increased to 3,200 machines per year in phases.
Shibaura Machine India started its operations in 2012 by acquiring Larsen & Toubro’s plastics machinery business. To mark its tenth anniversary this year, the company has broken ground on a new manufacturing facility on a sprawling 11+ acre site. Adjacent to its current factory. The new plant is expected to start trial production in November 2023. In the next 3-4 years, SMI is expected to create new jobs and increase the team size. Also, about 50 MSME businesses need capacity building.
His investment program in Japan, President Shigetomo Sakamoto said, “India has been a strategic investment target for us, and it represents a growing market for our products. But what makes the country even more attractive is its investment. Skilled and talented people. Teams in Japan and India have developed a strong and fruitful partnership over the years – as a result, SMI Improvements in manufacturing processes, increasing production and bringing the latest Japanese technologies to market. SMI is the first unit outside Japan to be recognized with the prestigious Shibaura Machine’s President Award for its performance and technological innovation. The Indian unit has won this prestigious award twice in three years. and will be successful in customer service. Rogram Our fresh investment over the next three years in our Indian facilities will include advanced material technology, control The adoption of mechatronics and IoT will double productivity.”
In his remarks, SMI Managing Director M. Kumar said, “As we celebrate our 10th anniversary, we are reminded of the great trust reposed in us by our parent company, Shibaura Machine Co., Ltd. SMI has made improvements in manufacturing processes since its takeover in 2012, and has been able to produce 600 to 1,200 machines per year and sales revenue We have grown threefold. We have been growing steadily year on year and have crossed the milestone of selling our 10,000 machines. 13,000 machines in October 2019 and 2022. With the new investment, we will continue to grow our capacity and team. We will add new products and increase our customer base with a track record of meeting various needs. Africa, Middle East , South and Southeast Asian countries have stringent standards.”
Shibaura Machine Group was founded in 1939 as Shibaura Machine Tool Company with investment from Shibaura Engineering Works (now Toshiba Corporation), and in 1961, it became Toshiba Machine Co. Ltd. The name was changed.
Later on, In April 2020, Shibaura Machine Co., Ltd. became Shibaura Machine Co., Ltd. after the company became completely independent from Toshiba Group. The name was changed. It is the market leader and industry standard in high precision injection molding machines in the world. Its product portfolio includes equipment, metal molding equipment; including industrial robotics and nanoprocessing systems.
Shibaura Machine acquired 100% stake in L&T Plastics Machinery Limited, the market leader in hydraulic injection molding machines in India. It was incorporated as Toshiba Machine Chennai private Limited and renamed Shibaura Machine India Private Limited in 2020.
In 2019, the company won the 10th National Awards organized by the Ministry of Chemicals and Fertilizers for Technological Innovation in the Petrochemical and Sub-Plastic Industry for its ‘Colors/Materials’. Fake articles. For this innovation, SMI received the coveted President’s Award from Shibaura Machine, becoming the first overseas unit to be honored with this distinction.
SMI is strongly committed to CSR. As part of its professional development programme; The company is running a basic training program recognized by the Ministry of Skill Development and Entrepreneurship, Government of India to impart job training to students of class 10-12. So far, about 100 students have qualified for internships under the National Apprenticeship Certificate Program. They built buildings for public schools and funded water reservoirs and roads in villages.
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