CIRCOR India Launches New Valves Manufacturing Facility in Coimbatore
(January 31st 2013)
India Facility Key to Penetration of High-Growth Power Generation, Oil & Gas and Other Industrial Markets in Asia
CIRCOR Flow Technologies India Private Limited (CIRCOR India), a CIRCOR International, Inc. (NYSE:CIR) company, has inaugurated its state of the art facility in Ponnandampalayam, Coimbatore. The facility will function as CIRCOR’s “Centre of Excellence” for manufacturing and engineering services, and is an important component of the Company’s strategy to penetrate key high-growth opportunities in Asia, including power generation, oil & gas and other industrial markets.
The new 60,000 sq. ft. facility includes manufacturing for Control Valves and Steam Conditioning Valves, as well as an office for global sourcing, design and applications engineering services. CIRCOR India products will be sold in the Indian market as well as exported to other international markets. The facility currently occupies 30% of the 8.75 acre plot, allowing room for future expansion as new products and services are introduced.
“India is a key strategic growth market for CIRCOR’s Flow Technologies segment,” said Wayne Robbins, Executive Vice President and Chief Operating Officer, Acting President and Chief Executive Officer. “We are excited to combine the rich heritage, products and capabilities of CIRCOR’s prior facility in Ahmedabad with our state-of-the art campus in Coimbatore. The consolidation of our manufacturing operations and shared services under one roof in Coimbatore is an important milestone for CIRCOR. We now have a much larger and more efficient operation capable of supporting our future expansion in the Asian power generation, oil & gas and other industrial markets.”
The CIRCOR India Coimbatore facility has 150 employees who are engaged in manufacturing, global supply chain and engineering services. The manufacturing facility is equipped with capability in machining, fabrication, welding, assembly and testing that are organized using Lean manufacturing principles. The facility is certified to ISO 9001:2008, OSHAS 18001:2007, and PED 97/23/EC. The supply chain and engineering services entity includes 60 engineers who provide the highest quality global shared services to CIRCOR businesses worldwide.
CIRCOR India’s Coimbatore facility is a key location for rich infrastructure of manufacturing logistics such as foundries and machining centers, raw materials, flow testing facilities, close proximity to other key manufacturers, and availability of industry application and design engineering personnel.
About CIRCOR India
CIRCOR Flow Technologies India Private Ltd (CIRCOR India), a wholly owned subsidiary of CIRCOR International, Inc., was established in 2009 to capitalize on the rapidly growing market opportunities in India within the oil and gas, power generation, and industrial segments. CIRCOR India is actively engaged in expanding its supplier and customer base as a valve design, development and manufacturing company.
About CIRCOR International, Inc.
CIRCOR International, Inc. designs, manufactures and markets valves and other highly engineered products for the energy, aerospace and industrial markets. With more than 7,500 customers in over 100 countries, CIRCOR has a diversified product portfolio with recognized, market-leading brands. CIRCOR’s culture, built on the CIRCOR Business System, is defined by the Company’s commitment to attracting, developing and retaining the best talent and pursuing continuous improvement in all aspects of its business and operations. The Company’s strategy includes growing organically by investing in new, differentiated products; adding value to component products; and increasing the development of mission-critical subsystems and solutions. CIRCOR also plans to leverage its strong balance sheet to acquire strategically complementary businesses. For more information, visit the Company’s investor relations web site at http://investors.circor.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of CIRCOR. Any statements in this press release that are not statements of historical fact are forward-looking statements, including, but not limited to, those relating to CIRCOR’s future performance. Actual events, performance or results could differ materially from the anticipated events, performance or results expressed or implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K AND SUBSEQUENT REPORTS ON FORMS 10-Q, WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT WWW.CIRCOR.COM. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For more information, please visit: www.circor.com.