CHENNAI: Shibaura Machine India (SMI) has inaugurated its unit 2 factory, built with an investment of Rs 225 crore, adjacent to its existing factory in Chembarambakkam, Chennai.
The new facility is all set to expand SMI’s manufacturing capacity in the country.
The subsidiary of Japan’s Shibaura Machine manufactures about 1,200 injection moulding machines and auxiliary equipment annually. The machines find their applications in automotive, electrical, household & furniture, material handling, medical, packaging, preforms, PVC, toys, writing instruments, and other industries.
The company has a growing customer base in India and over 45 countries in North America, the Middle East, East & West Africa, and the SAARC region. With the new factory, the manufacturing capacity of SMI will scale up to 4,000 units a year in a phased manner.
SMI began its operations in 2012 with the takeover of the plastics machinery business of L&T founded in 1990. The company had laid the foundation stone for the construction of a new manufacturing facility at a sprawling 11+ acres, adjacent to its existing plant in November, 2022. In the next 3-4 years, SMI is expected to create new jobs, increasing the team size. In addition, about 50 MSME vendors will be developed to support the capacity expansion.
Shigetomo Sakamoto, president, Shibaura Machine Group, Japan, said, “India has been a strategic investment destination for us, and it represents a growing market for our products. However, what make the country even more attractive are its skilled and dedicated people. Over the years, the teams in Japan and India have nurtured a strong and fruitful partnership – as a result, SMI is able to carry out improvements in manufacturing processes, increase production. We are confident of what our Indian team can achieve in design, manufacturing, and customer service, in the years to come.”
M Kumar, MD, SMI, said, “Since the commencement of our operations in 2012, SMI increased production capacity from 600 to 1200 machines per year and tripled sales revenue. We sold our 10,000th machine in 2019 and 14,000th machine in Oct 2023. With the new investment, we will continue to grow our capacity and team."
Shibaura Machine Group was founded in 1938 as Shibaura Machine Tool Company with investment from Shibaura Engineering Works (now Toshiba Corp). It became Toshiba Machine in 1961. Later, in 2020, it was rechristened as Shibaura Machine after becoming fully independent from the Toshiba Group in 2017.