Lantek joins in the success of the Basque Prime Minister’s mission to India
Last modified 19-04-2012
The company, which has an office and Competency Centre in India, expects 39% of its turnover in the Asia-Pacific region in 2012 to come from this market.
During the mission, Lantek signed a number of agreements with machine manufacturers in different places.
Lantek, world leader in the development and marketing of CAD/CAM/MES/ERP software solutions for the metal industry, was one of the 94 organisations that accompanied Basque Prime Minister Patxi López on his trade mission to India which took place from 19 to 23 March.
The main aim of the initiative, planned by the Alava Chamber of Commerce in collaboration with the Basque Government, was to strengthen institutional relations and commercial agreements with India in order to increase the sales of Basque companies in the country, as well as promote the presence of the Basque industrial sector in the Indian market.
India is currently one of the most important emerging economies in the world and one of the countries that is contributing most to world economic development, as shown by the growth figure of 7.4% recorded in 2011. If we focus on the machine tool sector and the metal industry, there was also a significant increase in activity, with the percentage of investment for this year forecast to be in excess of 18%.
The figures for the machine tool consumer market are also striking, with a total of €1.3bn in 2011 and growth rates of 18%, with the figure expected to rise to €1.5bn in 2012. This all means new and interesting business opportunities for companies like Lantek, who includes amongst its customers in India firms as important as JCB, Tata, Mahindra, and Jindal.
In 2011, India became one of the international markets in which Lantek recorded most growth compared to 2010: 370%, and where it expects to consolidate its presence over the next few years in order to generate 39% of turnover from the Asia-Pacific region in 2012.
“This is an example of the business possibilities offered by the country in general and the metal industry markets in particular” commented Joseba Pagaldai, Lantek’s Manager for the Asia-Pacific region. “The sustained economic growth rates of between 7 and 9% posted by India over the last few years are without doubt encouraging many Basque firms to start tackling this market”, concluded the Lantek manager, who accompanied the Basque Prime Minister on this mission in representation of the firm and said he was very satisfied with the results obtained.
During the mission, Lantek had the chance to sign a number of agreements with different machine manufacturers, especially water cutting machines, from different places like Bangalore and Calcutta, among others. The solution most demanded from the company in these agreements was Lantek Flex3d for 5 axes.
Considered a market with great potential and a large investment capacity, India is a country in which Lantek has been operating directly since 2004, making it one of the pioneering Basque companies in its sector to take on this market. Lantek currently has two offices of its own in Pune and Bangalore. In the latter city it also has a Competency Centre, which helps significantly in the development and adaptation of the management solutions included in Lantek’s portfolio.