Igus India to Expand Operations and Establish New Facility with INR 100 Crore Investment
- ByStartupStory | June 7, 2023
Igus, a global frontrunner in motion plastics, reveals the establishment of a state-of-the-art facility in Bengaluru. The company has acquired a new four-acre location near Budigere and intends to invest Rs 100 crore to bolster its operations. Furthermore, Igus aims to incorporate value-enhancing processes at the newly established plant.
Covering an area of 84,000 square feet, the upcoming facility will feature cutting-edge equipment and infrastructure dedicated to motion plastic production. Igus has already allocated Rs 15 crore for the initial phase of construction, and the facility is slated to commence operations in the near future.
As a wholly-owned subsidiary of igus GmbH, the Indian arm aims to fortify and expand its thriving operations in the country. With an impressive revenue increase from Rs 118 crore in FY21 to Rs 199 crore in FY22, and further to Rs 284 crore in FY23, Igus India has demonstrated robust growth. The company aligns with igus’ global focus on delivering cost-sensitive and sustainable solutions, as reflected in its motto, “Tech up, cost down.” Embracing innovation, Igus India has introduced 190 new products tailored for the Indian market in 2023, along with a range of digital services and solutions as part of its global program called “Enjoyneering.”
With an impressive portfolio of 190 new innovations, Igus stands out as a pioneer in the industry. Its iguverse platform revolutionizes sales and engineering by incorporating virtual reality technology, resulting in significant time, capital, and resource savings in product development, optimization, and maintenance. The company’s “Chainge” recycling program offers customers the opportunity to responsibly recycle their discarded energy chains through Igus. Notably, the company’s innovative spirit extends to the Igus-bike, the world’s first fully-designed bicycle crafted from recycled plastic sourced from Igus itself.
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