Taiwan press maker Huarong may set up assembly plant in India

By Satnam Singh
Correspondent

Published: December 23, 2013 9:50 am ET
Updated: December 23, 2013 9:52 am ET

Related to this story

Topics Machinery

MUMBAI, INDIA — Taiwan-based machinery supplier Huarong Plastic Machinery Co. Ltd. plans to establish an assembly operation in India.

“India is one of our biggest markets and the plant would help us to be near to our customer[s] and serve this market more effectively,” said Ryan Hsiao, who works in the company’s export sales, in an interview at the Plastivision trade show in Mumbai.

The company is conducting feasibility study for the proposed facility, which may be in Gujarat or Chennai.

“We would most likely prefer Gujarat, which is hub of the plastic industry in India. We are also working on investment details,” Hsiao said.

Tianan, Taiwan-based Huarong will likely finalize the India entry plan by the middle of 2014.

The project is being driven by the company’s falling sales in India.

“The weakening of the Indian rupee against the U.S. dollar hit us hard and a production facility in India would save us from the adverse impact of currency fluctuation on our shipments to India in the future,” Hsiao said.

Huarong sold around 70 injection molding machines in India in 2013 compared to almost 100 in the previous year.

The company supplies two-component injection molding machines to the automobile sector, which has been plagued by a slowdown, as well as in-mold label systems for packaging.

When the company moves ahead in India, Hsiao said initially the local plant will assemble machines ranging in size from 60-450 metric tons of clamping force. Eventually it will add machines above 500 tons.

“We have very strong relation with Indian clients, to whom we are supplying from many years. The plant will further help us to strengthen relations with the India market,” he stressed.


Comments

Taiwan press maker Huarong may set up assembly plant in India

By Satnam Singh
Correspondent

Published: December 23, 2013 9:50 am ET
Updated: December 23, 2013 9:52 am ET

Post Your Comments


Back to story


More stories

Image

Three advancements have driven injection molding technology

November 21, 2014 6:00 am ET

Injection molding technology has made major advances in the last 25 years, from largely a world of shoot-and-ship to doing as much as possible at the ...    More

Image

Renners leaving Sumitomo (SHI) Demag

November 21, 2014 10:01 am ET

Christian Renners is leaving injection molding press manufacturer Sumitomo (SHI) Demag Plastics Machinery GmbH, the company announced Nov. 21.    More

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

High pressure RTM systems moving from Europe to Mexico

November 20, 2014 4:24 pm ET

Engel Holding GmbH's subsidiary in Mexico says it has sold the first high pressure resin transfer machine system (HP-RTM) in the Americas to a...    More

Image

Reifenhäuser revitalizes German HQ

November 17, 2014 2:39 pm ET

Troisdorf, Germany-based Reifenhäuser Group, a major manufacturer of extrusion equipment, has celebrated the last beam being placed in its revitalized...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events