Indian plastic equipment maker Windsor Machines Ltd. is planning to double the size of its manufacturing plants for injection presses and extruders because of what it says is strong demand in its home market.
We are in a boom the last two years it has been growing, said T.S. Rajan, chief operating officer of the Ahmedabad, India-based company, which has annual sales of about 2.05 billion rupees (US$45.1 million) and sold 350 injection presses and about 250 extruders last year.
The company is projecting demand of about 500 molding machines and 450 extruders this year, Rajan said in an interview at the Plastivision trade show, held Jan. 20-24 in Mumbai. The company said it's also expecting sales of about 2.6 billion rupees (US$57.1 million) this year.
Rajan said Windsor expects continued solid demand growth among Indian firms for the next three to five years, but the recent history for the company has had some challenges.
The firm said in its most recent financial statements, filed in November, that it remains classified with the Indian government as a sick industrial company and has submitted restructuring schemes, although it noted that it expects to continue operating.
Company officials did not respond to interview requests after the show, but Rajan said Windsor and other local manufacturers have benefited from the Indian government's decision to put anti-dumping duties of up to 223 percent on imports of Chinese molding machines in 2009.
Some industry officials said those tariffs effectively shut Chinese presses out of India's growing market, after Chinese press makers saw their market share climb substantially in the years leading up to the decision.
It has probably given some benefits to the local manufacturers, he said of the anti-dumping decision from the Indian government, although he noted that the company has strong competition from Taiwanese press makers, in addition to others in India.
Windsor also is looking at diversifying into new product lines and possible acquisitions into anything with synergy, including other plastics equipment, Rajan said.
The firm wants to expand its offerings to include more complete systems of equipment, he said.
In 2010, the company signed a technology-transfer agreement with Italy's Italtech SpA for higher-tonnage injection presses, and added hybrid machines to its existing cooperation with extruder maker Kuhne GmbH.
Windsor, which is one of India's larger plastics equipment makers, manufactures injection molding machines with 50-2,000 metric tons of clamping force, mono- and multilayer blown film extrusion lines, machines to extrude PVC, high density polyethylene and chlorinated PVC pipe, and blow molding machines.