Mitsubishi Electric India CNC biz eyes 30% growth

Mitsubishi Electric India CNC biz eyes 30% growth

Mitsubishi Electric India CNC biz eyes 30% growth

 Mitsubishi Electric India aims to achieve 30% sales growth in CNC machines for this financial year, a top executive said on Sunday.

Talking to Deccan Herald, Mitsubishi Electric India General Manager (CNC Systems, Factory Automation & Industrial Division) Takahide Yoneda said, “Mitsubishi Electric CNC has grown organically, which has sales and service network comprising of four regional offices and 11 satellite offices and overseas service support to Bangladesh and Sri Lanka from India.”

“In FY2015-16, we sold approximately 1,000 units, expecting to grow 30% and aim to sell 1,300 units,” Yoneda said. For Mitsubishi Electric India, South India is the biggest market with 80% sales, out of which Bengaluru takes the majority share of 60%.

Meanwhile, the company will open its technical centre on Monday for CNC business in Peenya, Bengaluru, to support expansion of manufacturing in India. The facility is on a site measuring 15,700 sq feet and it has a showroom with all Mitsubishi Electric CNC equipment.

“CNC machines are numeric controllers which help in achieving precision. By the new CNC technical centre at Peenya, the lead time of supply to manufacturing companies will decrease since Mitsubishi Electric will maintain inventory of CNC machines, thus increasing response time which will be helpful for the manufacturing industry,” Yoneda added.

He claimed that Mitsubishi Electric’s CNC business has seen a remarkable growth of 50% in sales units in the last financial year. Considering the huge growth of Indian market, this facility aims to contribute for expansion of the Indian Machine tool market.

The Indian machine tool industry has grown by 18% as per the recent IMTMA data, out of which 56% machines are imported. Given the current gap between demand and supply, there is a clear need for adding capacities in this sector.

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