2013 Exhibitions
US-based filtration firm Parker Hannifin has set up a US$18 million factory near Chennai to manufacture components for a wide range of industries.
Thomas Williams, Executive Vice-President and Operating Officer, Parker Hannifin Corporation, said the company has invested over US$34 million in Chennai. India is an important component of the company’s targeted growth in Asia, which contributes about 10% of its sales, with a targeted growth of 20% over the next five years.
India accounts for a revenue of about US$130 million to the firm’s turnover. The company caters to the automotive segment including on-road and off-road, telecom, oil and gas, mining and primary metals sector.
The Indian factory will make products for the filtration, pneumatics and drives, and shielding businesses.
(PRA)
