LML has bagged an export order worth Rs.200 million from a Germany-based company [16-FEB-07]
Hyderabad-based Lokesh Machines Limited, one of India’s leading manufacturers of machine tools and automotive components, has bagged an export order worth Rs.200 million from a Germany-based company.
Disclosing this at a media meet here today, Mr. M. Lokeswara Rao, the Managing Director of Lokesh Machines, said Lokesh has designed and manufactured prototypes of CNC Lathe and CNC Vertical Machining Centre as per the specifications of M/s. Wenig Wemas GmbH (Wenig) and their associates in Europe.
Impressed by the quality of machines and the speed at which they have been designed and produced, M/s Wenig has placed an initial order for 100 machines worth Rs.200 million. Lokesh will start dispatches from the beginning of April 2007. The off-take could increase to 300 Nos. a year in the next three years, according to Wenig representatives Mr. Karl Heinz Wenig and Mr. Jeroen Dijkink.
M/s Wenig, has rich experience in designing machines, fixtures and offering tooled up solutions and has successfully installed tooled up machines in aerospace industries like Airbus and Fokker and many automotive Industries. They are also a leading machine tool distributor in Germany, is associated with machine tool distributors in the Netherlands, Portugal, Poland and other East European countries.. This association would pave way for greater inroads into the European markets for Lokesh Machine’s products. The company is already exporting machines to Italy and Turkey.
Lokesh hopes to earn 20 per cent of its revenues from exports in the financial year beginning April 1, 2007. Lokesh is targeting an export turnover of 40% by the year 2010.
The Rs.100-crore Lokesh Machines has among its customers some of India’s automobile biggies like Ashok Leyland, Mahindra and Mahindra, and Honda Motors.
