Read, Refer & Get the Trends – Happenings of Jan-18
Bookmyparts’ Industry News & Updates
Hoffmann Group Expands Services PAN India
bookmyparts.com says: Headquartered in Germany, Hoffmann Group, the European leader in quality tools announced the inauguration of a new office in Pune to tap the growing Indian market. Started its operation in 2016 in India, Hoffmann is witnessing rapid growth in the country.
Hoffmann Group markets products through its own sales offices in Asia and is investigating in business models to further expand in the Indian market. Hoffmann Group is planning significant investments in the coming year, to increase its reach and enhance service.
Speaking at the inauguration of the new facility, Mr. Martin Reichenecker, Member of Hoffmann’s Board of Executive Directors said, “India is one of the most important growth markets for us, and it is also important for sourcing. We offer a reliable supply of quality tools along with specific machining expertise. This way we help Indian manufacturers raise their productivity. In future, our investment will see a steady growth and we see good opportunities to become an important player, especially in e-commerce in India.”
Pinaki Banerjee, MD, Asia Pacific, Hoffmann Quality Tools, Asia Pacific Pte Ltd. said: “We started our operations in India on April 1, 2016 and I must say that we are fortunate that we have entered the market when the business sentiment looks positive, manufacturing is growing and FDIs are coming in. Also, I would like to point out that whenever a multinational enters the Indian market they first enter with a dealer network, then open a branch office before finally a subsidiary will be established.The way Hoffmann Group has started in the market by directly setting up a subsidiary, it is a clear commitment to the market and to our Indian customers.”
Hoffmann Group is one of the leading system partners in Europe and directly competing with the best and biggest in the industry. Hoffmann Group markets its own brand Garant and sources products from the leading manufacturers. With 75,000 products in the catalogue, the company works with roughly 500 suppliers and manufacturers, most of them are coming from Europe.
Lack of Advanced Tech – Low Investment Hamper Machine Tool MSMEs: Study
bookmyparts.com says: In an efforts to explore the various complications of the Micro, Small and Medium Enterprises (MSMEs) involved in the machine parts sector, CRISIL conducted a study that revealed that the problems including lack of access to newer technology and low investments in product development hamper MSME growth.
The study further stated that while the industry registered a healthy growth rate of 11 per cent in the past five years, the sector need to enhance production capabilities in order to grab a higher market share and registered increased growth.
The study however observed that the sector is expected to continue to grow healthily. The study further said that here is very low investment in product development in the machine tools and spare parts for MSMEs. Also limited skill-sets for customisation is another major hurdle that the sector needs to overcome.
Citing data, the study says that only one in every six units spend on new product development. thus one in every six spends only a meagre of their annual revenue for product development in machine spare parts and tools.
The study suggested that the MSMEs at this stage should improve competitiveness and quality through adoption of new technologies via global collaborations. Also the sector must invest in capacity addition in order to grow. Also the sector should consider diversification beyond automobiles in order to sustain in the long run, the study observed.
EEPC exhibits engineering products in Bangladesh
bookmyparts.com says: 100 Indian engineering companies displayed their products in the exhibition organised by the Engineering Export Promotion Council of India (EEPC), India’s premier trade and investment promotion organisation.
Bangladesh Industries minister Amir Hossain Amu and Indian High Commissioner Harsh Vardhan Shringla jointly opened the 37th edition of EEPCs flagship event the Indian Engineering Exhibition (INDEE Bangladesh 2017)- the first in Bangladesh, at the International Convention City Bashundhara in Dhaka.
On the occasion, Indian High Commission said the engineering firms showcased a wide range of products, including machine parts, devices, electrical machines & components, light engineering and food processing machineries.
Federation of Bangladesh Chambers of Commerce & Industry (FBCCI), the India Bangladesh Chamber of Commerce & Industry (IBCCI), the Bangladesh Engineering Industry Owners Association (BEIOA) and the Bangladesh Electrical Merchandise Manufacturers Association (BEMMA) joined collaboration in staging the event.
The Indian firms including some of India’s top public sector enterprises like SAIL, Indian Oil, Powergrid and RITES have participated in the event.
Ford opens large parts distribution centre in Bangkok
bookmyparts.com says: Ford Motor Company has announced official opening of a new Bt100 million parts distribution centre (PDC) at Bangkok, Thailand. The objective is to support company’s servicing of customer vehicles more efficiently and effectively.
Leveraging advanced technology, including Ford’s proprietary PANDA Warehouse Management System (WMS), the new PDC has full access to Ford’s parts inventory across all nine Asia-Pacific markets to locate and retrieve parts, company said in a press release.
The new facility stocks over two million parts and over 38,000 stock-keeping units within its 26,000 square-metre storage space. The area can be extended to 79,000 sm in future to support growth.
The PDC optimises parts storage and distribution to Ford’s growing nationwide dealer network and their customers.
As fully integrated Asia Pacific parts inventory network it will help to ensure seamless delivery of any required parts.
Export of Machine parts Sales Expected to Grow from Taiwan
bookmyparts.com says: According to Taiwan External Trade Development Council (TAITRA), Taiwan machine tool industry and the initiatives the industry is embracing to increase exports of machine tools, machinery spare parts and accessories to become more competitive in the world market.
Taiwan machine tool and spare parts industry is on course to achieve 14 percent growth in exports. Better business conditions in China as well as growth in the United States and Europe, which traditionally have been strong markets for Taiwan machine tools. Taiwan machine tool and machine parts manufacturers are also experiencing sales growth in Southeast Asia and Turkey.
The Taiwan government has deemed the machine tool industry to be of national strategic importance. As a result, it has supported an initiative to place Taiwan at the forefront of Industry 4.0 technology. Much of the machine tools manufacturers put efforts in this regard revolve around new machine tool control technology/human-machine interfaces (HMI), Industrial Internet of Things (IIoT)-based production management, cloud-based preventive maintenance, augmented reality and artificial intelligence.
U.S. mould-parts distribution centre opens in Tecumseh
bookmyparts.com says: A Michigan-based manufacturer and distributor of parts for injection-moulding and die-casting tools on Thursday officially opened a Canadian distribution centre in Tecumseh.
The PCS Company, a 60-year-old enterprise based in Fraser, Mich., launched a 2,500-square-foot warehouse at 2050 Halford Rd., with dignitary speeches and a green ribbon-cutting.
According to company sources, having a presence in the Canadian market is critical to their strategy going forward.
The company’s $200,000 local investment will create job opportunities in the warehouse and in sales, it will expand its operations in future with better growth opportunities in parts business.
Though PCS officially opened its doors recently, its Tecumseh warehouse started operating a month ago, serving the local plastic-injection industry.
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