LMW to increase production
Lakshmi Machine Works (LMW) is undergoing an expansion to increase its textile machinery production from 2.3 million spindles in 2006-07 to approx 3.5 million spindles in 2007-08.
The spinning segment of the industry would require 29 million spindles of additional capacity and an investment of Rs 550 billion to meet the expected target of 7% in the global textile industry in next 5 years. The company has a strong focus on R&D and has over a 100 patents for its products. In order to be competitive LMW has also cut down delivery period by 6-8 months.
LMW has brought into the market more productive vertical machining centers and horizontal machining centers, which are expected to yield higher margins in the time to come.
LMW also produces castings having capacity to annually manufacture 50,000 tons of high precision castings. The company is going to focus on more value added & machined castings for better margins. The company as a part of its growth strategy is also looking at acquisitions in its core business area of machine tools and castings. LMW is also scouting for upgraded technology for the textile machinery.
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