You are using an older browser version. Please use a supported version for the best MSN experience.

Japan’s Shibaura Machine to invest Rs 225 crore to more than double Chennai plant capacity

The Financial Express logo The Financial Express 24-11-2022 FE Bureau
With the new investment plan, the manufacturing capacity of Chenni- headquartered SMI will be increased to 3,200 machines a year from bout 1200 in a phased manner. (Photo: Pixabay) © Provided by The Financial Express With the new investment plan, the manufacturing capacity of Chenni- headquartered SMI will be increased to 3,200 machines a year from bout 1200 in a phased manner. (Photo: Pixabay)

Shibaura Machine India Pvt Ltd (SMI), the subsidiary of Japan’s Shibaura Machine, 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 at Chembarambakkam in Chennai that manufactures about 1200 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 West Asia, East & West Africa, and the Saarc region.

Also Read: Govt doubles down on defence purchases from MSMEs; buys goods worth this much amount

With the new investment plan, the manufacturing capacity of Chenni- headquartered SMI will be increased to 3,200 machines a year from bout 1200 in a phased manner.  Shibaura Machine entered into manufacturing in India in 2012, acquiring 100% stake in L&T Plastics Machinery Ltd, then market leader in hydraulic injection moulding machines in India. It was incorporated as Toshiba Machine Chennai Pvt Ltd and in 2020, it was renamed Shibaura Machine India Pvt Ltd.

Shigetomo Sakamoto, president, Shibaura Machine Group, Japan, said, “India has been a strategic investment destination for us, and it represents a growing market for our products.  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.”

Also Read: Bisleri chairman says he is in talks to sell company to Tata Group

The company has recently laid the foundation stone for the construction of a new manufacturing facility at an 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.

More From The Financial Express

The Financial Express
The Financial Express
image beaconimage beaconimage beacon