Ahmedabad, Feb 25: Multinational KHS AG of German, a filling and packaging equipment company, has expanded its operation in India and set up a new facility here with an investment of Rs 40 crore.
The company had been operating in India for the past ten years and raised its equity in the KHS Machinery Pvt Limited from 60 percent to 89 percent while the remaining 11 percent will be held by its partner Mamata group of companies.
''We planned to invest another Rs 60 crore in the production facility in next three to four years'' Mr Valentin Reisgen, CEO of the German company told mediapersons here.
The new unit will be inauguarated by the Gujarat Chief Minister Narendra Modi tommorrow.
Mr Reisgen said the company has decided to set up a new unit in view of the growing market. The company has Rs 100 crore turnover, which is expected to rise to Rs 300 crore, he added.
The CEO said this will be the second manufacturing facility in Asia. The German company is already operating in China and has its production facility in Brazil, USA, Mexico, besides eight production units in German.
The KHS has 60 sales and service bases in all continents, the CEO said.
The new productin facility has been set in Vatva Industrial area of Ahmedabad in an area of 25,000 sq meter. The company will also export machinery from the Gujarat plant.