Socomec to expand to Lanka, B’desh
This strategic move consolidates the three countries into a unified business entity, marking a significant milestone for Socomec India and opening up new opportunities for business growth.
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CHENNAI: Socomec India, a global specialist in Low Voltage (LV) power management, has unveiled its ambitious expansion plan on Wednesday.
The Chennai-headquartered French powerhouse is set to venture into the markets of Sri Lanka and Bangladesh, effective immediately. Termed as ‘Greater India,’ this strategic move consolidates the three countries into a unified business entity, marking a significant milestone for Socomec India and opening up new opportunities for business growth.
Meenu Singhal, MD, Socomec India, said, “Our commitment to meeting the evolving energy needs with innovative power solutions in the Asian market remains unwavering. Engineered in Europe and proudly manufactured in India, our products are poised to make a substantial impact in the markets of Sri Lanka and Bangladesh. ”
With a recent Euro 5 million investment by Socomec Group in the Indian market to enhance manufacturing capacity, the intent is not only to meet local demands but also to Sri Lanka and Bangladesh markets through exports. The expansion is aimed at Socomec India doubling its revenue in these regions within the next 3 years.
Socomec announced the appointment of Suhard Amit as the General Manager, tasked with steering the company’s initiatives in the emerging markets of Sri Lanka and Bangladesh.
