Security products company, Gunnebo India, plans to increase production capacity by about 75 per

RELATED ARTICLES TN new production hub for thermal power equipment

cent this year at its Halol factory in Gujarat. A global manufacturer of safes and lockers, the company will invest around Rs 30 crore to add two production lines.

Som Gangopadhyay, senior VP, bank security and secure storage, Gunnebo India, said, "Our growth last year was over 40 per cent. We have three existing lines and plan to add two more. India has become the fourth largest revenue contributor to our parent, up from No. 11 in 2008. The Halol plant not only caters to the domestic market but is also a global sourcing hub."

The factory is situated over 50,700 sq m with a built-up area of close to 9,730 sq m. Over 2,060 sq m of built-up space will be added to the existing facility over the next one year. The plant makes safes, fire-resistant cabinets, strong-room doors, safe deposit lockers and safe-cum-deposit lockers. The production capacity is about 15,000 units a year.

The company's other plant at Ambattur in Chennai, manufactures fire extinguishers under the Minimax brand. The factory has a capacity of about 75,000 units a year. Gunnebo has also started making fire extinguishers at the Halol facility. Over 75 per cent of the Indian arm's revenue comes from banks. The fire business will add 12 per cent. The company has now started focusing on tier II cities to attract regional and local banks. The largest opportunity lies in the urban cooperative banking sector with over 1,700 branches, Gangopadhyay said. The security and storage products market in India is worth Rs 1,700 crore. Gunnebo and Godrej dominate the segment. The company is known for its brands like Chubb Safe.

The Sweden-based parent is a global major in making safes and lockers. The total revenue for 2010 was ¤640 million.

(This correspondent’s visit to the plant was sponsored by the company)