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[September 2009]
Larox to Establish a Subsidiary in India
Larox Corporation (Lappeenranta, Finland) is to establish a subsidiary in India with the aim of increasing the company's market share in the growing Indian market. The new subsidiary will be responsible both for Larox's aftermarket services and filter sales development.
"We have been active in India already for over 20 years and have built a solid customer base with the help of our local representatives. Establishing our own subsidiary will help us develop our aftermarket services and deepen our customer relationships,” said Topi Karppanen, President and CEO of Larox Corporation. “We will offer local service, in local language and currency. Thanks to the local spare parts stock and permanent staff we will be able to service our customers better and faster, and we will be able to offer faster and better support also to our local representatives in new equipment sales.
"For the filter sales, we will continue to work in close cooperation with our local agents as they have the best, in-depth knowledge of the Indian market potential.
"India is a very important market for Larox, and strengthening our presence there is part of our growth strategy. The country has huge population, fast economic growth and major reserves of natural resources such as iron ore, coal and zinc. Many of our Indian customers are today among the global leaders in their business sector.
“With the growth of the Mining, Metallurgy and Chemical Process Industries, there is a constantly growing demand for filtration equipment and services. In addition, India faces major challenges in energy efficiency, and this drives demand for more efficient filtration technology that enables savings both in energy and water consumption. Our aim is to increase our market share of this growing market, and also benefit from the local qualified engineering and manufacturing resources."
Larox's subsidiary in India will be located in Bangalore and it is expected to be fully operational during the second quarter of 2010 at the latest.
ENDS