Related to this story
BANGALORE, INDIA — New Delhi-based Hikon H.K. Industries is building a dedicated plant in the neighboring state of Haryana to manufacture extrusion lines for plastics recycling.
The company, which is more than three decades old, manufactures about 10 injection molding presses and an equal number of extrusion lines per month at its New Delhi plants.
"We are also scouting for a joint venture partner" for the project, General Manager Sumit Kumar said at Plastasia, held Feb. 22-25 in Bangalore.
Although India lags in recycling equipment technology, the segment offers good growth prospects, he said.
"Taiwan equipment is quite popular in the Indian market. It also suits the India market pricewise, whereas European or Korean equipment is expensive. Therefore, we are keen to have a joint venture or license production with a Taiwanese company," Sumit said.
The company expects the new facility to be operational in the first quarter of 2014.
"We have already acquired the land, and construction could commence in another two months," Sumit said.
Hikon is looking to boost its production capacity to 275 machines annually. The firm's New Delhi plants cannot be expanded.
Sumit said Hikon is active in international markets. The company recently shipped a sheet line to South Africa, and extrusion lines for recycling to Oman and Saudi Arabia, he said.