Source : Indo-MIM 
Monday, July 22, 2013 5:45PM IST (12:15PM GMT)
 
Indo- MIM World's Number 1 in Field of Metal Injection Molding (MIM) Plans to Invest Rs. 350 Crores in Karnataka Over Next 3-5 Years
Bangalore, Karnataka, India

-- Expects to reach Rs. 1200 crores with addition of 1000 more employees.

-- Company recorded turnover of Rs. 500 crores in fiscal year 2013 with 2000 employees

Indo- MIM, World's # 1 in the field of Metal Injection Molding (MIM) Company supplies precision-engineered products to customers in more than thirty countries globally.

Indo- MIM, plans an investment of Rs. 350 crores in Karnataka over next 3-5 years and expects to reach Rs. 1200 crores while adding 1000 more employees. The company registered a turnover of Rs. 500 crores in fiscal year 2013. Indo- MIM has offices in USA, Europe, India and China.

Some of Indo- MIM's high profile clients include Fortune 500 companies all over the world spread across more than 30 countries, cutting across several industry segments. MIM is an emerging manufacturing technology utilized to produce metal components of complex geometries in large volumes. Indo- MIM has the distinction of using Indian engineers to enhance US technology. The company employs about 300 engineers in India.

According to Dr. Krishna Chivukula, Chairman Indo- MIM, "We are growing year on year at an approximate rate of 30 % and expect to do a turnover of Rs. 1200 crores in 3-5 years. During 2014 fiscal year and ensuing five years, Indo-MIM plans to aggressively increase its capacity in Bangalore India and in select countries overseas, thereby ensuring its pre-eminence in the MIM industry".

Established in 1998, Bangalore headquartered Indo-MIM has since expanded its facilities into the largest installed MIM capacity in the world. Employee strength in Bangalore facility is about 2000. Besides MIM, Indo-MIM does Aerospace precision machining & surface treatments and has a investment casting facility in Tirupati, Andhra Pradesh specializing in the production and export of Investment Castings (IC) for the automotive sector.

Global Awards

Indo- MIM has received three of the eight Metal Powder Industry Federation (MPIF) PM Design Excellence Awards at the recently concluded Powder Metallurgy Conference PM- 2013 at Chicago, Illinois, USA. This industry body evaluates companies across USA, Japan, France, Italy, Spain, Germany, China and India.

In the automotive engine design category, Indo-US MIM received the Grand Prize for the "Threaded Port, Metal Support Ring and Sensing element". The MIM Threaded Port, Metal Support Ring and Sensing element is estimated to save the customer 50% over the cost of fabrication using alternate technologies.

Indo-MIM also received a Grand Prize in the Consumer Segment for a Tool holder assembly consisting of two MIM parts—a tool holder and a grip-spring tensioning part that goes into a woodworking tool for fine detail carving. The MIM design contributes to a lean operation for the customer by substantially reducing lead-time through the elimination of many processing steps.

In the automotive segment, Indo-MIM received an Award of Distinction for a fuel-control gear segment that goes into a device that regulates the entry of fuel into the engine. Converted from a machined part, the gear segment is fabricated via MIM from low alloy steel at a savings of 80% over the previous method. The fabricator delivers nearly three million pieces annually to the customer.

About Indo-MIM

Indo-MIM headquartered in Bangalore, India is a leading global supplier of precision- engineered products using Metal Injection Molding (MIM) as the core manufacturing technology. The MIM process combines the design flexibility of plastic injection molding with the strength and integrity of wrought metals to offer cost effective solutions for highly complex part geometries. The state-of-the-art facilities are fully integrated to provide customers with a one-stop resource for conceptualizing, designing and manufacturing complex precision components and sub-assemblies. The capability to offer the best of world-class technology at competitive prices provides a significant advantage to customers all over the world.

For more details, please visit the website; www.indo-mim.com

 
For News Release background on Indo-MIM click here
 
Media Contact Details
Meenakshi Pradhan, Group Leader- Corporate Communication, +91 8050022664, Meenakshi.p@indo-mim.com
 
KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Chemicals & Plastics, Financial Analyst & Investors, Heavy industries, Major diversified industrial groups, Technology;General:Consumer interest
 
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