Recently, Tube Investments has commissioned a new tube mill, featuring advanced process technology, in Chennai.
Tube Investments of India Ltd. (TII), a Murugappa Group company, is emphasising upon OEM partnerships as well as building up the distribution channel networks in a bid to increase its presence in the overseas markets. As published in a leading newspaper – the export business, as a key factor, will determine the company’s growth, in addition to differentiated products and niche applications.
Mr. Vellayan Subbiah, Executive Vice Chairman, TII, informed the shareholders that FY 2021-22 was a good year in terms of exports. Further, this is in tandem with the company’s strategy of increasing the share of exports in each of its businesses.
In the TII’s annual report for 2021-22, Mr. Subbiah remarks, “Exports of tubular products accounted for more than 20 percent of engineering business’s revenue. The industrial chain’s business saw over 40 percent of revenues through exports. The mobility business, continued to grow in the global market, enhancing its export sales and capitalising on the opportunities in the micro mobility vehicle and fitness space. We have also built the manufacturing capability for an aggressive push in exports of bicycles into new geographies.”
Notably, TII has recently commissioned a new tube mill with advanced process technology in Chennai (Tamil Nadu), a new Greenfield facility for Industrial chains in Tiruttani (Tamil Nadu), expanded the Cold Drawn Welded (CDW) tube plant in Rajpura (Punjab), and the auto chain facility in Aurangabad (Maharashtra).
He also remarked that the engineering business, which is focused on premium tubular products & solutions for automotive and off-highway sectors, has registered an uptick in revenue and profitability across domestic and export markets.
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Furthermore, the Chennai-based firm is also increasing its presence in the clean mobility sector. TII has established a 100 percent subsidiary Tl Clean Mobility Pvt. Ltd. (TICMPL) to consolidate and proactively focus on its activities in the segment.
