Deshpande sees global economies moving away from fossil fuels as much as possible
Nacka, Sweden-based Atlas Copco is set to double earnings from end of 2024 from the current average of Rs.400 crore as gas and process (GAP) products are added from a new factory at Talegaon, Pune, Amit Deshpande, Business Line Manager – Sales and Application at Atlas Copco, said on the sidelines of Gastech held in Singapore 5-8 Sept.
The new factory will manufacture air and gas compressor systems for the local market and for export, adding to output from existing plant. It encompasses a manufacturing plant and office building of approximately 25,000 m2. Atlas Copco is investing around MINR 1,400 (approximately 180 MSEK).
“We invest further in capacity in India to cater to the growing demand of the Indian and export markets,” elaborated Vagner Rego, Business Area President, Compressor Technique.
“This expansion project is part of our strategy to remain first in mind, first in choice for our customers. It will enable us to reach new customers and markets and improve lead times.”
Vagner Rego added, “This expansion project is part of our strategy to remain first in mind, first in choice for our customers. It will enable us to reach new customers and markets, and improve lead times.”
“Business continues to boom because of target sets by global economies for carbon capture and hydrogen energy generation for the past few years and will continue to do so,” Deshpande said.
“Our products manufactured in Pune are supplied to the Indian and African markets,” said Deshpande, adding that demand is also increasing from current customers across the world, most of which for now is met through existing Atlas Copco manufacturing centres.
The existing 11,000-sq m GAP factory at Pune manufactures products based on order basis, annually worth about Rs.400 crore, while the completion of new factory, end of 2024, will double that output in value, he said.
Deshpande sees global economies moving away from fossil fuels as much as possible and demand growth continues for products, machineries and technologies for carbon-capture and hydrogen production globally.
Separately, Atlas Copco says the Talegaon facility will get around 80% of the energy from solar panels and 75% of the water will be derived from rainwater harvesting.
The construction will be in line with the LEED (Leadership in Energy and Environmental Design) concept, said Atlas Copco which has been turning industrial ideas into business-critical benefits since 1873.
“By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.”
In 2022, Atlas Copco Group had revenues of BSEK 141 and at year end about 49,000 employees. Fiinews.com
