Latest News | Jungheinrich Sets Up Rs 24 Crore-facility in Maharashtra

Mumbai, Mar 17 (PTI) German warehouse equipment and intralogistics firm Jungheinrich on Friday said it has set up a new integrated facility in Bhiwandi, Maharashtra, with an investment of Rs 24 crore.

"The Indian market for material handling equipment is currently around 20,000 units a year and is likely to grow at double-digit CAGR for the foreseeable future. We are all set to substantially expand our capacity with an aim to meet the growing demand for forklift trucks and other such warehouse equipment in India," Jungheinrich India Head Manojit Acharya said in a statement.

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As part of this growing ecosystem, the company now plans to position itself as an 'automation solution provider' by introducing new machines in the Indian market such as Automotive Guided Vehicle (AGV), he added.

"Besides expanding our capacity, we are also bringing in a new line of products for the Indian market and in the process substantially increasing our present market share. All the products that Jungheinrich brings to the Indian shore come from our state-of-the-art factories in Europe and China," Christian Erlach, member of Management Board of Jungheinrich AG, said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)