Chennai, Nov 5 (SocialNews.XYZ) Finland-based global elevator and escalator major Kone Corporation will use its new Indian plant to cater to the Middle East and Southeast Asian markets apart from catering to India and neighbouring markets, a senior official of the company said on Tuesday.
Earlier on Tuesday, Tamil Nadu Governor Banwarilal Purohit inaugurated the Rs 450 crore plant of Kone Corporation's India subsidary.
Speaking to reporters here after the inauguration, Kone Corporation President and CEO Henrik Ehrnrooth said the company will cater to the Middle East and Southeast Asian markets out of India while the primary markets to be served by this plant include India and neighbouring markets.
The new facility will employ about 600 people and is designed for a capacity based on demand.
According to Kone Elevator, nearly 80 per cent of the components will be produced locally and will step-up global exports.
Ehrnrooth said India accounts for about three per cent of Kone Corporation's top line and ranks the number two market after China.
He said the global company has logged about eight per cent growth during the first nine months of the current year and the order book size is around 8.5 billion euro.
Source: IANS
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