LAPP group announced investment of 150 crore in MP
BHOPAL: On Friday Germany-based LAPP group manufacturing high flexibility cables announced investment of Rs 150 crore in the Rajgarh district of Madhya Pradesh for setting up a new unit.
Today the company performed ground breaking ceremony for setting up a manufacturing unit at Pilukhedi in Rajgarh district under Bhopal division.
“India’s economy is thriving and I believe, it is the future market of the connectivity solutions industry,” Director of the company, Siegbert E Lapp told reporters here at the manufacturing site. The company has witnessed 30 per cent year-on-year growth in India which is one of its focused markets.
The company expects its new facility here will help cater to the growing customer demand besides boosting its revenues many-fold. Lapp Group, one of the world’s leading manufacturers and suppliers of high flexibility cables, cable accessories and industrial connectors is setting up the new facility on an area spread over 30 acres.
The facility will be second in India besides Bangalore where LAAP India’s corporate headquarter is also located.
The company’s Managing Director Srinivas P Kamisetty said, the company will initially employ 100 people and once fully functional it will give employment to nearly 400 persons, majority of them will be locals.
