First Indian Manufacturer Settles Down in SIP
The first wholly-owned subsidiary of the Indian Murugappa Group, Tubular Precision Products (Suzhou) Co., Ltd. was officially incorporated in Loufeng Township, SIP, at the end of June, with 8.05 million USD registered capital for the initial installment. The company is the first large-scale Indian industrial enterprise in SIP, and the fact marks the formal entry of hi-tech Indian enterprises in SIP.
Tubular Co. is affiliated to Murugappa Group of India, which was founded in 1949 with 29 subsidiaries and a total assets of 1.5 billion US dollars, 9 of them being listed at Bombay Security Exchange. The Group covers a wide range of industries, including toilet equipment, chemicals, automotive parts, etc. It is also the largest manufacturer in cold seamless steel tube rolling in India. As a leader in steel tube manufacturer, the Group supplies its products to both automobile and non-automobile industries, such as precision automotive tubes and water tubes, furniture tubes, and construction tubes.
With a history of 50 years, the large-scale industrial group and its subsidiaries have now set target towards the extensive China market, and begun to deploy its production bases in China to cater for the demands for steel tubes in auto and other industries. The selection of Loufeng Township as location of the manufacturing facility is based on full assessment of the advantageous investment climate and backup services of the township.
July 5, 2006