PUNE (TIP): Leoni, a German-based manufacturer of wires, cables and cable systems to industries, has begun manufacturing cables for the renewable energy sector at its new plant at Chakan near Pune. The company began manufacture of standard cables for the auto industry this year and plans to install electron beam equipment by 2015 to manufacture the latest generation of cables for solar applications and high-speed trains, locomotives, trams, metros and cargo railcars.
“India promises attractive medium- and long-term growth prospects for several of our targeted industrial markets,” said Klaus Probst, President and CEO, Leoni AG. “Opening this new plant at Chakan is an essential move to better serve local customers and to drive our globalisation in India and close-by countries.”
During this year, Leoni plans to invest around 11 million for the facilities and the equipment and to have about 140 employees, he added. The new facility will make cables for critical applications in oil & gas, petrochemicals, power plants, water treatment and other process industries and Leoni plans to export a major portion of such products. This is the company’s second production site in India.