German firm Festo opens manufacturing plant in Hosur, invests ₹500 crore
Germany-headquartered Festo has inaugurated a state-of-the-art manufacturing plant in Hosur, Tamil Nadu, entailing investments to the tune of ₹500 crore. The plant will initially generate more than 1,000 direct and indirect employment opportunities. There are plans to scale operations and workforce in the coming years.
The new plant will focus on the production of advanced pneumatic automation components. This particular facility spans over 75 acres of developed industrial land to serve domestic and global markets with high-precision automation solutions.
'We are immensely proud to celebrate 100 years of Festo by reinforcing our commitment to India through this new facility,' said Thomas Böck, chairman of the management board of Festo. 'This plant not only strengthens our local manufacturing capabilities but also reflects our vision of sustainable growth and technological leadership for the next 100 years.'
According to a statement, Festo is strongly positioned in all geographic regions to develop innovative solutions for customers fast and flexibly on site. 'To this end, the company is further expanding its global R&D, global production, and logistics locations, as well as its supply chain. In doing so, Festo is focusing on increasing regionalisation, 'local for local' – also to shorten transport routes and value chains, making them more resilient and minimising emissions,' the statement mentioned.
During the Global Investors Meet 2024, the first investors meet of the DMK government, Festo India gave a commitment to establish a greenfield manufacturing facility for pneumatic components in Krishnagiri district with a proposed investment of ₹520 crore, creating over 2,000 jobs.
With headquarters in Esslingen am Neckar, Germany, Festo supplies pneumatic and electrical automation technology to 300,000 customers of factory and process automation in over 35 industries. During the year 2024, Festo achieved a turnover of around €3.45 billion.
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