09 January 2013

Parker Hannifin Inaugurates Manufacturing Facility in Chennai, India

- Facility built on a 10 acre plot in Mahindra World City 
- Investment of Rs. 100 crore in the green field facility 
- Facility targets employment of 300 people in next 2 to 3 years 

Chennai - 09 January 2013 (PRNewswire) - Parker Hannifin Corporation inaugurated its first green field manufacturing facility at Chennai. The state-of-the-art, world class facility is built on a 10 acre plot in Mahindra World City. The new manufacturing site will focus on production for the filtration, pneumatics and drives, sealing and shielding businesses. 

The company has invested Rs.100 crore in setting up the facility. The new facility will manufacture broad range of products and systems for segments such as automotive, off-highway mobile, telecom, oil and gas, mining, and primary metals. 

The Chennai facility targets the employment of 300 people in the next 2 to 3 years. With this facility and acquisitions, Parker Hannifin India plans to double their revenues within the next 5 years. 

Tom Williams, Executive Vice President and Operating Officer, Parker Hannifin Corporation said, "The inauguration of our first green field manufacturing facility at Chennai and localization of our products demonstrate our commitment to India as a key growth market. Our new Chennai facility will enhance our ability to support our customers locally here as we build our presence in new markets in India." 

"Expanding business in Asia, and specifically India, represents a significant aspect of Parker's future growth strategy. Asia represents approximately 10% of our sales today but over time we would expect that to be as much as 20% as our target is to double our business in the region over the next several years. A significant portion of our growth efforts in the region will be focused on India, as this country will play a critical role in our success in achieving these goals," Mr. Williams added. 

Arijit Sen, Country Managing Director, Parker Hannifin India said, "The investment in the new Chennai Parker India plant has established a strong foundation for our future success in India. Additional manufacturing capacity at Chennai will help the company to cater to the demand for high quality products, engineering solutions and systems in India. We have currently only built the first phase of the project in Chennai of 166,000 square feet and we expand further by 100,000 square feet in the second phase." 

Founded in 1918, Parker Hannifin Corporation is a $13 billion, global company. Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 60,000 people in 48 countries around the world. 

Parker Hannifin has aggressive growth plans in the Asian region and India will play an important role in that growth strategy. Parker has been in India since 1993 and has grown its business through acquisitions and building of new manufacturing facilities. Parker Hannifin India operates in 11 sales offices, 7 manufacturing facilities and employs more than 1,500 people. Parker has made five strategic acquisitions in India in the past two years and nine since 2005. 

Source: Parker Hannifin Corporation