Horiba to build Rs 100-cr medical devices plant in Nagpur

Diversified Japanese company Horiba plans to set up a facility to manufacture medical devices for in-vitro diagnostics at Nagpur with an investment of Rs 100 crore. The company, better known for automotive emission testing equipment, also announced commissioning of a new vehicle emission testing cell at Chakan technical centre Thursady, and said it is looking to double revenue from India in the next five years.

The company already has a medical devices production unit at Haridwar in Uttrakhand. The greenfield manufacturing facility in Nagpur is expected to be commissioned next April, said Rajeev Gautam, president, Horiba India, adding the new testing cell houses the latest emission systems including Mexa 1 series system for BS-VI testing among others.

"Horiba India is investing Rs 100 crore in a greenfield manufacturing plant in Nagpur to manufacture medical devices for in-vitro diagnostics as the Haridwar facility has reached its optimum capacity. The new facility will be ready by next April," Gautam said. Horiba India had a turnover of Rs 600 crore in 2018 and the company has set a target of doubling it in the next five years, Gautam added.

Masayuki Adachi, president of Horiba group, said the new Chakan facility will strengthen Horiba's offerings in automotive testing. Auto manufacturers are under tremendous pressure to make their products BS-VI compliant and this has in turn put us under great pressure, Gautam said, adding Horiba is ready to test any number of engines and equipment with its testing facilities..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)