Metso India is aiming to increase share of exports to revenue to around 20 per cent by 2015 by focusing on Asia Pacific, European Union and the Middle East markets. Metso India is a technology provider to the mining sector. Sudhir Srivastava, Senior vice president, Mining and Construction, Metso Asia said that the company's Indian operations clocked 200 million euro in revenue (Rs 1,574 crore) in 2012.
Exports as percentage of net sales stood at 12.9 per cent. The company is aiming to generate 20 per cent of its revenue from exports by 2015, he added. The Finland-headquartered, Metso has spent around Rs 450 crore in India since setting up base in 1992 for putting up manufacturing facilities around India, primarily at Alwar in Rajasthan and at Ahmedabad in Gujarat.
It has also recently invested Rs 40 crore for expansion of n Ahmedabad plant. Metso's renewed thrust on exports is not because of the fact that India's mining sector is currently plagued by a host of issues including the ban imposed by Supreme Court on iron ore mining in various states, but because India offers skilled labour and better costs compared to its targeted export destinations.