Motion plastics company - igus has announced the setting up of a new facility in Bengaluru. The wholly owned subsidiary of igus GmbH has said that it plans to invest INR 100 crore to increase item availability and establish value-adding processes at its new plant.
The company has taken up a new four-acre facility near Budigere in Bengaluru and has already invested around INR 15 crore in the first phase of construction, which is expected to be operational in the coming months.
The company launched 190 new products in 2023 for the Indian market and several digital services and solutions under its global programme, 'Enjoyneering,' advocating fun with innovation in engineering.
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As per Deepak Paul, Managing Director, igus India, the company has a global focus on cost-sensitive and sustainable solutions designed to meet customer demands, in line with its motto ‘Tech up, cost down’, which is also the Indian approach to technology and innovation. This key factor has led to its significant growth in the country. “With the economy looking buoyant and with our continued commitment to invest in growth, we are looking to further double our current revenues in a shorter span of the next 3-4 years,” he said.
Stephen Moreno Simpson, International Group Development, igus GmbH, said, “igus has been concerned about the environmental impact of plastic and is committed to the concept of recycling to ensure sustainability. Keeping this in mind, we have initiated ‘Chainge’, a recycling programme, wherein customers can send their discarded energy chains to igus for recycling, irrespective of the company they purchased from and this will be recycled responsibly.”