CHENNAI: KUBS Safes and Locks, promoted by Non-Resident Indians, is setting up a manufacturing facility at Oragadam near here for manufacturing safes and vaults at an investment of Rs 120 crore, a company official said today.
KUBS Impex Pvt Ltd Director, Baderuddin Panakkat, said the Chennai-based firm offers a range of safes to retail, banking and hospitality sector and the proposed manufacturing unit at Oragadam would be the largest in India.
"It is coming up on a 10 acre land at Oragadam. Our facility will be at least 1.5 times bigger than the existing factories in India. Investment is about Rs 120 crore. We hope it will come up by January (2014)...," he told reporters.
The company would also export safes and vaults from India. "We are hoping to have two shift operation (in our plant) and another one shift for exports."
According to the company website, a state-of-the-art manufacturing facility is being commissioned in Oragadam and is being designed to make use of progressive fabrication methods to increase value to customers.
Commenting about the tie-up with US-based ACCO Brands Corporation, he said the company would initially tap the Southern market and later expand it to northern markets on offering ACCO Brands in India.
"We are hoping to generate about USD three million in three years time (of this partnership).", he said.
KUBS Impex has established a service team to support and provide after-sales service for ACCO brand of products in the country, he added.