New Delhi – South Korean company Logos is setting up a manufacturing plant for polyurethane/epoxy flooring in the south Indian state of Tamil Nadu.
The company is building a factory on a leased 23,000 m2 site in Sriperumbudur. The town is 30 km (20 miles) west of Chennai.
‘We opened India sales and service centre as Hyun Chem Solutions about five years ago in 2012,’ said Byung-Hwa Oh, Director, Logos. ‘Now we are upgrading our engagement in India by setting up a plant, which is likely to be functional by March 2018.’ Oh was speaking at the ACETECH 2017 show held in, New Delhi in December 2017.
Hyun Chem’s main business is the installation of epoxy polyurethane flooring.
Logos is investing about INR 2.5 m ($ 4m ) in India in the first instance, and plans to hire 40 people. Oh said the new plant will operate as Logos, with the Hyun Chem name retained for sales and service operations.
Korean investment is increasing in India, and Logos is aiming to service Korean companies who are already there, or planning to enter the market. Its client list includes Hyundai, Samsung, Doosan, Mando, Daewoo, and Hyosung, said Oh.
Logos currently supplies the India market from its plant in Ulsan, Korea. ‘We import 40-50 tonne/year material from our Korean unit, and if we require more, we source locally from another Korean company, KCCm which has a manufacturing base in Chennai,’ he said.
Oh said his company is trying for business from Korean auto giant Kia Motors. This company has recently announced plans to build a $1.1 bn facility in the Anantapur district of Andhra Pradesh. This is designed to cover 536 acres and, the company said, should be operational by 2019. Production is planned to be 300,000 units/year.
Currency Exchange: XE.com
