India is one of the world's fastest growing economic systems. This is particularly applicable to the automobile and automotive industry. And LMT India has been very successful within this environment since it was set up in 2000. Growth is now to be pushed even further.
Is it bad news when the Society of Indian Automobile Manufacturers (SIAM) revises its prognosis for domestic sales of cars in India downwards? – Not really. Sales for 2011/2012 will still increase by 10 to 12 percent! Experts had however originally anticipated growth of up to 18 percent. The fact that the Germany Trade and Invest export trading company attributes India's automobile industry "major potential" within this environment is by no means a surprise.
The same words could even be used to describe the situation and development of LMT India. What started off in December 2000 with only a few employees has evolved to represent a major success story. The LMT GROUP in India now employs more than 60 people. Company headquarters have just moved into new office premises in Chennai. Venkat Venkatasubramanian, Managing Director of LMT TOOLS India, emphasizes the advantages associated with this location: "Thanks to the strong automobile industry and also referred to as the "Stuttgart of India", Chennai offers the infrastructure for swiftly importing goods to the country. We can therefore supply our customers very fast."
It goes without saying that the tool experts benefit from the fast-growing manufacturing industry. In many areas of industrial manufacturing, high-performance tools are required to ensure more efficiency in production. "It is important that we are perceived as part of the LMT Group and as an international company", explains Venkatasubramanian. "Customers know that we are technical pioneers in many tool areas." A wide variety of LMT tool systems are used by Indian customers, e.g. line boring bars for the production of large engines, high-performance hob cutters for gearwheel and gearbox production, thread rolling heads for chipless thread production as well as tool clamping and tap drilling systems.
With its strategic decision to increase production on site in India, the LMT GROUP has paved the way for further growth: there are plans for new production and office areas in Pune, representing a key step, emphasizes Venkatasubramanian: "Local production facilities and competence centers are a strong symbol of long-term commitment. We are establishing a production facility which complies with the global LMT standard."