Germany based WIKA Alexander Wiegand S.E. & Co. K.G., has started operations at its strategic Global Hub for Engineering & Production in India. The Global 845 Million EUR major inaugurated its State-Of -The -Art manufacturing facility for Valve Manifolds and Flow Elements near Palwal, Haryana.
Spread over 5 acres, the new Global Hub, built with an investment of approximately Rs. 100/- Crores will cater to primarily the Domestic, Asia Pacific & Middle East markets. This is specifically for Flow Elements and Valve Manifolds. With the acquisition as its core focus, WIKA in 2014, acquired 3 companies in India, including Micro Precision Products Pvt. Ltd., for which the new hub has been built.
Mr. Alexander Wiegand, Chairman & CEO of WIKA Group, while inaugurating the plant, said “India has a huge potential for growth. We are at around Rs. 400/- Crores and expect to grow to 100 M EUR (Rs. 750/- Crores) in the next 5 years, at a growth of 10 to 12 % Year on Year. Strategic acquisitions are one of the primary growth factors of WIKA Worldwide and for us, India is a potential country for more acquisitions in the future.”
WIKA India Group today stands at 40 M EUR with 15 M EUR as exports. The company started its operations in India in 1998 with a Sales office and converted to full-fledged production by 2001. The two other companies acquired in Chennai and Ghaziabad manufacture pressure switches. To increase the production capacity of Level Measurement devices, WIKA is also expanding its facility in Pune.
WIKA in India manufactures Pressure, Temperature and Level mechanical measuring devices, including Pressure Gauges, Pressure Switches, Temperature Gauges, RTDs, Thermocouples, Thermo Wells, Level Chambers, Magnetic Level Gauges, Switches and Transmitters.
“We plan to triple the capacity of the old Micro Precision site. Micro Precision has purchased the neighbouring plot of almost the same size as the new one, near Palwal. The new land will be later used for future expansions, doubling the size and capacity of the new building. It will simultaneously act as a hub in India, for global requirements, of the WIKA Group. ” said, Mr. Siddharth Shrivastav, Managing Director, Micro Precision Products Pvt. Ltd.
In India the company is a strategic supplier to Reliance, NTPC, Doosan, Thermax, L&T, BHEL, EIL, Yokogawa, ABB, and Siemens among others.
“I expect WIKA India to grow at 15 % and Micro Precision to double its business in the next 5 years. Globally, the Group is looking at a 10% Year on Year growth and expects 1/3rd of this growth to come via acquisitions and 2/3rd as organic growth. This is in consonance with our Vision 2025.WIKA is looking for further opportunities in the market to further its growth in the field of measuring and control. Opportunities in the horizontal supply chain network are also being investigated.” further continued Mr. Wiegand.
About WIKA Group of companies
Founded in 1946, the WIKA Group of companies with Headquarters in Klingenberg, Germany, is a Global Market leader in Pressure, Temperature and Level measurement technology. The company has its Presence in more than 75 countries and employs around 9000 people worldwide. WIKA delivers 50 million quality products to over 100 countries every year. Worldwide, approximately 600 million WIKA measuring instruments are in use. WIKA also sets the standard in the measurement of level and flow, and in calibration technology. This is thanks to a broad portfolio of high-precision instruments and comprehensive services.
WIKA started its Indian operation in 1998 with a Sales office and converted to full fledged production by 2001. In India it manufactures Pressure, Temperature and Level mechanical measuring devices, including pressure gauges, pressure switches, temperature gauges, RTDs, Thermocouples, Thermowells, Level Chambers, Magnetic Level Gauges, Switches and Transmitters. The company provides in-house calibration services for pressure, temperature and signals as well as manufacturing calibration benches for pressure, temperature and signals. For further details please visit www.wika.co.in.