Kineco Exel Composites India, a joint venture between Kineco Group and Finnish firm Exel Composites, has expanded its manufacturing facilities in Goa and has five production lines at Pilerne. Shekhar Sardessai, the founder and managing director of the Kineco Group, stated that the company seeks to increase its footprint in the transportation, wind power, and telecommunications sectors in India and globally.
“This expansion will lead to further employment and investment. It will be an investment of several million dollars, and we will touch 2000 employees soon,” he said.
“There is a revolution in the market to be green. Kineco Exel will play an important role to ensure that we are able to offer solutions in wind energy so that our clients can generate energy more efficiently. We are positioned in a market which is rapidly growing,” said Sardessai.
He said the business would focus on technology enabling emission reduction and consequently benefit shareholders.
“In the last one year, we expanded production from existing four lines to five lines. We have started working with new customers after fine tuning the product,” said Sardessai.
“The first year of operation saw the core attributes of a successful joint venture come to life,” said Mikko Rummukainen, chairman of Kineco Exel Composites and chief financial officer of Exel Composites.