MUMBAI, INDIA — After completing the acquisition of Italtech SpA, Ahmedabad, India-based Windsor Machines Ltd. has started working towards its next joint venture or acquisition.
“We have already identified the prospective acquisition and something concrete would likely to emerge in the next three to four months,” said CEO T. S. Rajan, in an interview with Plastics News at Vinyl India 2014 in Mumbai.
Windsor is on the verge of finalizing an acquisition or joint venture in the extrusion market.
“We are into making injection molding and extrusion lines and recent acquisition of Italtect was on the injection molding side, therefore, our next move would be extrusion side,” confirmed Rajan.
Meanwhile, Windsor plans to launch its first two-platen injection molding machines using Italtech technology this summer. “The critical parts would remain come from Italtech's plant in Italy for the time being; we hope to localize them in the next few years,” Rajan said.
Commenting on Windsor's growth strategy, Rajan added, “We are looking at both organic and inorganic growth. We are looking at wherever we can add value to the customer.”
Windsor larger objective is to be identified as total solution provider with the ability to offer from manufacturing equipment to molds, material, training and support.
“The whole strategy is to emerge as the No. 1 choice of the customer, or we could say, ‘When comes to plastics, its Windsor.'”
Windsor sold 320 injection mold machines and 350 extrusion lines in 2013 and recorded total sales of around INR 250 crore (US$52 million). This year, it expects to sell 450 injection presses on the strength of Italtech acquisition and 400 extrusion lines with sales to swell to around INR 400 crore (US$83 million).