Endress+Hauser to invest Rs 200 cr for expansion of Aurangabad facility

Aurangabad, Jan 3 () Swiss instrumentation company Endress+Hauser plans to invest Rs 200 crore over the next five years to expand capacity at its plant here.

"We are expanding our unit in Waluj here. We will invest Rs 200 crore over the next five years," Endress+Hauser Flowtech India's President and Director K Kumar told reporters here.

He said the expansion will create 70 new jobs in addition to the 130 people it already employs, and added that over 600 jobs will be created indirectly because of the expansion.

The company, which manufactures specialised equipment, currently has a turnover of Rs 350 crore per annum and is targeting to increase it to Rs 1,000 crore, he said, without giving a timeline for the same.

Its global chief executive Bernd Josef-Schaefer, who is on a visit to the facility which is completing 20 years, said the company is expecting a 10 per cent growth in India business every year.

On the US-China trade war, which are showing signs of ebbing, he said the company is cautious and taking appropriate steps.

"Looking at the stock market and its connection to USA-China trade war we are not fearful. But we are cautious and taking steps accordingly. The economy of India is strong and we are expecting a 10 per cent business growth here," he said. AW AA RVK