Kone Elevators plans to export components from new factory

Chennai, July 7 (IANS) City-based Kone Elevator hopes to export elevator components in a major way out of its new new factory by 2015 said a top company official here Friday.

"We will be shifting our production operations to a new location near Sriperumbudur (around 50 km from here). We have acquired 18.5 acre there. The production capacity of the proposed plant will be nearly double that of the existing one here," Neeraj Sharma, managing director, told reporters.

He said the company has a market share of around 20 percent in the 35,000 units per annum domestic elevator industry.

Sharma said currently not much of component exports happen out of the current plant and from the proposed one exports are likely to go up.

The Indian subsidiary of Finnish major Kone Corporation exports elevators to markets like Sri Lanka, Bangladesh and Nepal. It also exports components for modernisation projects for other Asia-Pacific markets like Australia, South Korea, Singapore and Malaysia.

Meanwhile launching a new energy efficient elevator KONE N MonoSpace here, Noud Veeger, executive vice president-Asia Pacific & Middle East, said India offered great opportunity for Kone as there is lot to happen in terms of urbanisation and also the current population would become old in four decades.