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Igus India to set up new facility and grow operations with Rs 100 cr investment

Tuesday, 06 Jun 2023
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Igus, a world leader in motion plastics has announced the setting up of a new facility at Bengaluru, and has taken up a new four-acre facility near Budigere. The company plans to invest Rs 100 crore for the same and also to strengthen operations by adding value-enhancing processes at its new plant.

The new facility will be spread over 84,000 sq. ft. with the most advanced equipment and infrastructure for motion plastic production.The company has already invested Rs 15 crore in the first phase of construction of the facility, which is expected to be operational in the coming months.

The wholly-owned subsidiary of the German company igus GmbH plans to further strengthen and grow its successful operations in the country. Its revenues grew from Rs 118 crore in FY21 to Rs 199 crore in FY22 and to Rs 284 crore in FY23. Igus globally focuses on cost-sensitive and sustainable solutions, in line with its motto ‘Tech up, cost down’, which has fuelled significant growth. Igus India’s growth plans intertwines innovation even as the company launched 190 new products in 2023 for the India market and several digital services and solutions under its global program, “Enjoyneering'.

The company boasts of 190 new innovations, and the iguverse platform empowers sales and engineering with virtual reality enabling the company to save time, capital, and resources in product development, optimization, and maintenance. Further its ‘Chainge’, recycling program,allows customers to send their discarded energy chains to igus for recycling which is recycled responsibly. The igus-bike is the world’s first robust fully-designed bicycle using recycled plastic fro the stables of the company.

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