|By Business Wire||
|February 18, 2014 08:07 AM EST||
Kyocera Corporation (NYSE:KYO) (TOKYO:6971) today announced that construction has been completed on the Kyocera Group’s first manufacturing plant in India, and that a completion ceremony was held on February 17 to mark the start of trial operations at “KYOCERA CTC Precision Tools Private Limited*.”
The establishment of Kyocera CTC Precision Tools is intended to strengthen the company’s cutting tools business in the Indian market, where demand for industrial cutting tools is expanding rapidly. The industrial cutting tool market in India is expected to grow the fastest of all newly developing countries based on the growth in the automotive, industrial machinery, energy, and infrastructure markets. Furthermore, with price competition intensifying among automotive manufacturers in India, there is a growing priority for purchasing domestically made products.
Seeing these market trends in India, Kyocera CTC Precision Tools began construction of the new manufacturing plant in November 2012 in order to expand its cutting tool business in the country.
“The Kyocera Group delivers a diverse range of products globally, from fine ceramic components, electronic devices, and cutting tools to mobile phones, copiers, solar power generating systems and services such as information and communications technology solutions. As our first manufacturing site in India, we hope that Kyocera CTC Precision Tools will act as a springboard for the Group’s further business expansion in the country,” stated Kyocera Corporation Chairman Tetsuo Kuba during a speech given at the completion ceremony. “We are delighted to work with our partners in India at this new manufacturing plant and hope that our business will help contribute to the development of Jamshedpur and India.”
|Company name||KYOCERA CTC Precision Tools Private Limited|
|Location||Jamshedpur, Jharkhand (eastern India)|
|Start of construction||November 2012|
|Start of trial operation||December 2013|
|Manufacturing plant size||
Lot area: approx. 8,000m2
Floor space: approx. 7,000m2 (2-story building)
|Operations||Manufacture of industrial cutting tools (inserts, tool holders)|
|Production targets||Begin producing 100,000 inserts per month|
Kyocera Cutting Tool Business in India
Kyocera currently has sales offices in four cities in India including Gurgaon, Chennai, Bengaluru (Bangalore) and Pune; and in September 2012 also established a technical center for cutting tools in Gurgaon to support the needs of local customers by providing a technical support system. With the start of manufacturing at the new plant, Kyocera has established a three-pillared structure along with sales and technical support; aiming to expand sales of cutting tools in India.
* Kyocera CTC Precision Tools Private Limited is a manufacturing company jointly established by Kyocera Asia Pacific Private Limited (President: Kenji Aonuma), Kyocera Corporation’s wholly-owned subsidiary dedicated to sales in the Asia-Pacific region, and CTC (India) Private Limited (Management Director: Ramesh Agarwalla), an industrial cutting tool manufacturer focusing on the manufacture of micro drills for printed circuit boards and hole-making tools called Micro Industrial Tools.
For more information about Kyocera Cutting Tools, please visit:
Kyocera Corporation (NYSE:KYO) (TOKYO:6971) (http://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of cutting tools, industrial ceramics, solar power generating systems, mobile phones, printers, copiers, electronic components and semiconductor packages,. During the year ended March 31, 2013, the company’s net sales totaled 1.28 trillion yen (approx. USD13.6 billion). The company is ranked #492 on Forbes magazine’s 2013 “Global 2000” listing of the world’s largest publicly traded companies and in 2013 was ranked by Ceramic Industry magazine as the world’s No.1 manufacturer of advanced ceramics.