Kolkata, Nov 13, 2010 (Calcutta Tube/IBNS) FEAL GmbH of Germany has set up its 100 per cent India subsidiary- FEAL Tech Pvt Ltd- in the city to offer integrated technology to basic Indian industries with special focus on the steel industry.
FEAL GmbH has planned to invest Rs 6 crore in its Indian subsidiary as start-up capital.
Launching its Indian operations on Monday, Debasish Mukherjee, managing director of FEAL Tech said: “Indian industry, particularly steel, is going to experience magnum growth in the coming decades. This will not be limited to production only. It will stretch its needs to quality, safety, high grade of automation, maintenance, human resource and efficient use of natural resources.”
He said the objective of setting up FEAL Tech was to provide integrated solutions to the metal industry from a single source besides offering customer-oriented and energy-efficient solutions.
The company has proven and time-tested products which would add value to the operations of Indian basic industries and steel in particular, Mukherjee said.
Biswadip Gupta, CEO, JSW Bengal Steel and chief guest, expressed hope that FEAL Tech would provide the ‘right stimuli’ and improve the overall efficiency of Indian industry on all critical operational parameters.
FEAL GmbH, located in Hamm, Germany, is the holding company of five companies having domain expertise in steel and metallurgical industries.