Escalators and elevators firm Schindler India plans to invest ₹170 crore to set up India’s first escalator manufacturing line and improve its research and development facilities at its plant near Chakan in Pune.

The investment is part of the total Rs 600-crore outlay over a period of six years which employs more than 1000 people at any point of time in Maharashtra, the company said in a release.

Uday Kulkarni, President Schindler India and South East Asia said the company plans to expand capacity of its elevator line to around 17,500 units and its escalator line to 1,200 units per annum by 2019.

“The elevator and escalator market is expected to grow at 8% in the current fiscal and at Schindler India it is our aim to grow faster than market," he said.

Schindler, a 100% owned subsidiary of Schindler Group, has already made an investment of Rs 430 crore towards setting up an R&D centre. The company claims to have grown its turnover from Rs 300 crore to Rs 1,600 crore in the last 10 years.

here is company details.

 

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