6/26/2012 3:44:00 PM
NEWS BRIEFS
NORMA Group Building New Factory in India
The NORMA Group AG plans to build a new production facility in Talegaon near Pune, India. The Group has operated in India since 2009.
“With the new plant, NORMA Group is enhancing its production capacity to keep pace with the increased demand of the Indian market for connectors and joining elements,” the company stated.
Production on the 48,437 sq ft facility, which will increased NORMA Group’s capacity fivefold, is expected to start in August 2012.
“Due to tighter emission standards for the automotive industry and other sectors, the demand for NORMA Group´s engineered joining technology is growing consistently,” the company added. “These standards also apply increasingly to the Indian market, which offers considerable growth potential.”
The company is also expanding its distribution network, which stands at 30 distributors in eight Indian states.
“India’s dynamic market offers us huge growth opportunities we want to exploit consistently with the new plant in order to further strengthen our market position,” explained CEO Werner Deggim.
During 2011 NORMA Group reported sales increased 18.5% to EUR 581 million, while adjusted EBITA improved 20.2% to EUR 103 million and net debt dropped below EUR 200 million.
NORMA Group was formed in 2006 through the merger of the German Rasmussen Group and the Swedish ABA Group, a engineered joining technologies company. The company, which employs more than 4,250 workers, is headquartered in Maintal, Germany, and operates 17 manufacturing facilities as well as numerous sales and distribution sites across Europe, the Americas and Asia Pacific. ©2012 GlobalFastenerNews.com
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