By: Rhoda Miel
January 9, 2013
CLEVELAND (Jan. 9, 11:25 a.m. ET) — Parker Hannifin Corp. has opened its first new manufacturing operation in India, focusing on production of filtration, pneumatics, drives, sealing and shielding parts.
The Cleveland-based company uses plastics, rubber and metal in its operations and is investing INR 100 crore ($18.1 million) in the Chennai plant. It expects to have 300 employees in the next two to three years as manufacturing fully ramps up.
The plant — Parker Hannifin's first all-new greenfield investment in India — joins with five existing sites the company acquired during the past five years.
Asia now represents about 10 percent of Parker Hannifin's sales, said Tom Williams, executive vice president and operating officer in a Jan. 8 news release. It expects to double those sales in Asia during the coming years, with much of the growth focused on the new production in Chennai.
The new plant now covers 166,000 square feet in the Mahindra World City industrial park, but the company expects to add another 100,000 square feet as business expands.