Osaka, Japan, Dec 02, 2010 - (ACN Newswire) - Panasonic Corporation today announced it will set up a welding system company in India through its subsidiary Panasonic Welding Systems Co., Ltd. The new company, Panasonic Welding Systems India, will be established in December 2010 in Gurgaon in the northern state of Haryana as an internal divisional company of Panasonic India Pvt. Ltd. and start production in August 2012.
India's welding-related market has been growing rapidly in recent years. Apparent consumption of steel(1) in the country has been growing year after year, and India became the world's third biggest consumer of steel in 2009, after China and the United States(2).
The Indian market is expected to grow further as increased production of transportation vehicles, such as automobiles and railways, is anticipated against the backdrop of rising personal disposable income and supply of goods.
Panasonic Welding Systems India will strengthen its welding solution proposals tailored to local needs through producing energy-saving, high-quality arc welding equipment and supplying Japan-made arc welding robots.
Panasonic positions the new company as a new pillar of the group's growth strategy and aims to secure top share in India's arc welding equipment market by responding to local needs.
Panasonic strives to become the global market share leader in arc welding equipment by fiscal year 2019 ending in March 2019 as the company strengthens its welding solutions and expands business in emerging countries.
(1) An index closely related to the demand of arc welding equipment
(2) Source: World Steel Association
About Panasonic Welding Systems India
Name: Panasonic Welding Systems India (PWSI)
Location: In the suburb of Gurgaon, Haryana, India
Capital: Approx. 1.8 billion yen
Managing Director: Mr. Toshihide Takahashi
Production items: Arc welding equipment and related products
Production capacity: 25,000 units per year
Establishment: December 2010
Start of production: August 2012 (planned)
Employees: Approx. 120 people
Lot area: Approx. 22,000 m2
Building area: Approx. 7,900 m2