Walter plans to build new tool production plant in India

Germany-based precision tool maker Walter AG (Walter AG) is planning to build a tool manufacturing plant in India. Walter is a global metalworking company that develops, manufactures and markets metal cutting, drilling, milling and turning tools with replaceable carbide tips. Walther CEO Peter Witteczeck told the media, 'We expect emerging markets like India and China to play an important role in our future global growth strategy, for which we have planned to build A new manufacturing facility.” The construction of the plant will be finalized during the year, and Walter is currently investigating the site in Pune, India. Walter Tools India, a wholly-owned subsidiary of Germany's Walter AG, recently signed an agreement with India's Tata Motors to supply tools for the production of its Rs1-lakh car. In addition, the company supplies knives to Honda, Toyota, and some other automakers in India. With the opening of a new plant in Münsingen, near Stuttgart, Germany, for the manufacture of indexable inserts in July, Walter India is now able to meet the tooling needs of its Indian customers, Walter said. After the completion of the new factory, it is expected to significantly increase its turnover.