News Brief
Carl Zeiss To Invest 250 Million Euros In India To Build Its Largest Lens Factory
Zeiss Group
Carl Zeiss India is set to construct its largest spectacle lens production facility in Bengaluru, with an investment of over 250 million euros.
This investment highlights the strategic significance of India as a key growth driver for the Zeiss group, according to Miguel Gonzalez Diaz, the managing director of the company.
The construction of the facility will commence next month on the land acquired two years ago. The expected completion date for the project is October 2024.
Zeiss aims to achieve sales of Rs 1,800 crore by the end of the current financial year and expects to double sales in less than six years, Diaz said.
It should be noted that the firm's financial year follows an October to September cycle.
The new facility will enable Zeiss India to produce 260,000 lenses daily, a six-fold increase from its current production capacity.
"The board of directors decided Zeiss India is capable of doing more for the group because they trust in the capacities, competence and skills we have," Diaz said, reports Livemint.
The production ramp-up is scheduled between the end of 2024 and 2026, and the facility will also manufacture metrology solutions.
The company plans to increase its workforce in both production and research and development (R&D).
The hiring of R&D staff will depend on the size of the project, with a focus on hiring software engineers.
The company currently allocates 15 per cent of its global sales to R&D across its various research centres worldwide.
After 25 years of operating in India, Carl Zeiss currently employs around 1,400 people. However, with the planned expansion, this number is expected to increase to around 2,000.
The company's production facilities will not only cater to the domestic market but also serve overseas markets, according to Diaz.
Carl Zeiss India specializes in the production of spectacle blanks and prescription lenses.
Around three-fourths of its output is exported to Europe, Asia, the Middle East, and Africa, while the remaining portion is used to meet domestic demand.
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