Fifty years ago | HMT Sales to go up in three years

NEW DELHI, Sept. 29: The Hindustan Machine Tools Limited would increase its turnover from Rs. 43 crores to Rs. 100 crores in the next three years when it completes its expansion and diversification programme, Dr. S. M. Patil, Chairman of the Company, told a press conference here today.

Dr. Patil said this would however push up the capital outlay of the company to Rs. 100 crores from about Rs. 70 crores at present.

Dr. Patil said the recognition that HMT had won in the sophisticated international machine tool markets could be seen from the agreement it had signed last year with Kearney and Trecker Marvin of U.K. under which it would supply the basic machines for the numerical controls for sale abroad. HMT would gradually take on more and more of the numerical controls part of the work to make the entire product in India. HMT had already secured orders worth £1.5 millions (Rs. 2.8 crores) for the next three years.

HMT also signed another agreement with Machine Tool Works Buchrle and Co. Oerlikon, Switzerland, for the export of engineering documentation and equipment to the Swiss company and the contract was worth 4.5 million Swiss francs (Rs. 2.8 crores).

Published - September 30, 2024 04:17 am IST