German lock manufacturer ABUS to invest Rs.300 crore in India
New Delhi, Nov 13/2013 : (IBNS): German lock manufacturer ABUS, on Wednesday announced its national rollout along with a plan to invest more than Rs.300 crores in setting up its manufacturing facility in India.
The company is in talks with state governments for finalizing the location.
ABUS said that it will be employing more than 1500 people by Dec 2014, 50 percent of which will be women.
They will be also investing in establishing company owned training centres across 28 cities in India.
As a tribute to India, the company launched an exclusive collection of locks which will showcase the Bengal Tiger and Taj Mahal on its front. It is for the first time that ABUS will be manufacturing designer locks inspired by any nation.
Designed in India and manufactured in Germany, the locks will be retailed internationally.
Speaking on the occasion, Christian Bremicker, Chairman, & CEO ABUS KG said, "Indian security market is the fastest growing in the world at 36 percent and will surely be one of the most rewarding markets for us. We are very optimistic about India and will be setting up our operations in 28 cities by December 2014 and will have staff strength of more than 1500. We will also set up a research and development facility in the country and India will be the third country outside of Germany to have an ABUS Test Lab."
"India has inspired many of our solutions and we first came here in the year 1936 and sold a few locks to the prisons. Later, my father visited in 1979 to learn from the locksmiths of Aligarh. The India locks collection is a token of thanks to the country whose magnificence is known and appreciated world over. This international collection will help Indian icons reach to International homes. With this move, ABUS is taking a step further in designing attractive and impeccable security solutions. " Bremicker said.
Kaushik Moulik, Country Head, ABUS India stated, "India is one of the most exciting markets for the security industry as the Indian consumer is opening up to the world trends and demanding the best available security solutions. Locks are no longer a commodity for Indians and becoming a necessary lifestyle measure."
ABUS started its India operations in 2011 and has already established its presence in the states of Bihar, Jharkhand, Orissa, West Bengal and Assam.
As a part of the national rollout, the company will expand its operations to 28 states by end of 2013 and the locks will be retailed in most of the retail outlets across 28 states.
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