Fuchs Lubricants (India) Pvt. Ltd. announced its expansion plans for the Indian market. The company has set up a state- of -the-art plant at Ambernath, on the outskirts of Mumbai. With an investment of over Rs. 400 million, Phase I of the plant is ready to go on stream. Construction of Phase II will commence soon in 2011 with an investment of Rs. 100 million.
Speaking on the occasion, Mr. Stefan Fuchs, Chairman of the Executive Board, Fuchs Petrolub AG Germany, said, "We see a huge growth potential for Fuchs Lubricants in India and as a part of our expansion plan, we have set up the Ambernath plant to cater to a wide range of sectors." The plant will also manufacture a wide range of eco-friendly Fuchs products, which will be marketed under Planto and Eco brand names.
The company has ambitious growth plans to triple the sales turnover to Rs. 2 billion in the next 2-3 years. For this purpose a comprehensive marketing plan has been worked out using a multi- pronged strategy of targeting both the high-end/niche marketing segments, and also general lubricants.
