CEO confirms major step forwards in global strategy
(Luvata: London, UK. 21 June 2011). Luvata, a world leader in metal solutions manufacturing and related engineering services, confirms it has received Board approval for an expansion into India through its Heat Transfer Solutions division. The group anticipates a first large production facility aimed at the domestic market. Luvata is one of the world’s biggest producers of coils and coolers for applications including commercial, industrial and mobile refrigeration.
About 52 per cent of India’s workforce is directly involved in growing food and it is the second largest producer of fruit and vegetables in the world. However, currently around a third of the food in India rots and becomes unusable because of the lack of a temperature-controlled supply chain network.
To address this challenge, India’s Ministry of Food Processing Industries (MFPI) is implementing a range of measures for developing its food processing sector. Under the scheme for Cold Chain, Value Addition and Preservation Infrastructure, MFPI has assisted ten cold chain projects over the last few years.
India’s cold chain industry is growing at near 25% per year, compared with 2-3% market growth in the rest of the world. This tremendous growth is propelled by the processed-food sector, supermarket retail, a shift towards horticultural crops and demand from the pharmaceutical sector.
“The growing global population means that it has become increasingly important to be able to store, preserve and move food, milk and medicines safely and effectively. At Luvata our technical expertise in all aspects of thermodynamics is unrivaled and Luvata intends to play a role in strengthening India’s cold-chain infrastructure,” says CEO John Peter Leesi.
“Luvata’s expansion into India is a significant step forward in our growth strategy, which focuses on emerging markets and technology-driven, high value-added products and solutions,” continues Leesi. “India’s increasing population demands fruits and vegetables all year long. This provides a significant market opportunity for Luvata’s cold-chain expertise and I would be very happy to see us capture 10% of this market by 2015.”
Additional information concerning Luvata’s expansion in India will be available shortly.
Luvata is the leading international metals supplier of solutions, services, components and materials for manufacturing and construction. Luvata’s solutions are used in industries such as renewable energy, power generation, architecture, automotive, transport, medicine, air-conditioning, industrial refrigeration, consumer products and construction. The company’s continued success is attributed to its longevity, technological excellence and strategy of building partnerships beyond metals. Employing over 7,000 staff in 18 countries, Luvata works in partnership with customers such as Siemens, Toyota, CERN, Shaaz, and DWD International.