Schindler to invest Rs 170 crore in expanding manufacturing facilities

Schindler India is gearing up to expand its manufacturing set up and improve its Chakan-based R&D facilities with an investment of Rs 170 crore. It plans to expand its elevator line to produce a capacity of around 17,500 units and its escalator line to 1,200 units per annum by 2019. Under the Make in India initiative, Schindler has already made an investment of Rs 430 crore towards setting up a factory and an R&D centre that boasts a 71 mt tall tower with eight shafts. The company’s Rs 170 crore investment is part of the total Rs 600 crore outlay over a period of six years. Commenting on the announcement, Uday Kulkarni, President, Schindler India and South East Asia, said, “The elevator and escalator market is expected to grow at 8 per cent in the current fiscal and Schindler India aims to grow faster than the market. In the last 10 years, our turnover has grown from Rs 300 crore to Rs 1,600 crore. With the Rs 170 crore investment, we aim to further the quality of our services and work towards becoming a preferred vendor to our customers.”