Guitarmaker to set up base in India
Tuesday,
March
21,
2006
Kochi
(UNI):
Leading
Spanish
flamenco
guitar
maker
Enrique
Keller
is
going
to
set
up
a
production
unit
in
the
Cochin
Special
Economic
Zone
(CSEZ)
shortly
to
produce
its
world-renowned
musical
instruments.
The
company
has
taken
about
20,000
sq.
ft
of
land
in
the
CSEZ
on
lease.
It
is
expected
to
set
up
its
plant
in
the
next
two
to
three
months
and
start
commercial
production
by
September-October
this
year,
informed
sources
told
UNI.
This
will
be
the
first
foreign
direct
investment
(FDI)
in
the
CSEZ
to
manufacture
complete
musical
instruments.
Faced
with
stiff
competition
from
China
and
South
Korea,
Enrique
Keller
had
been
looking
for
a
production
base
in
Asia.
Not
wanting
to
set
up
its
unit
in
China,
which
has
a
large
number
of
guitar
making
units,
it
had
zeroed
in
on
India,
the
sources
said.
Kochi
seemed
to
have
found
favour
as
it
has
a
well
developed
sea
port,
which
the
company
would
use
for
shipping
out
its
goods.
Also,
India,
alongwith
Germany,
Canada
and
some
African
countries,
is
the
main
supplier
of
wood
for
the
instruments.
The company is expected to hire about 100 to 300 workers for its Kochi plant. It is expected to make an initial investment amounting to about Rs 50 million to 60 million in the venture, which will be run by a fully-owned subsidiary. With the middle class youth in India having increased purchasing power, and also a taste for popular music, the company is interested in tapping the local market also. The Kochi facility, however, is to to be a hundred per cent export-oriented unit.
Founded in 1944 by German Enrique Keller Fritsch, Enrique Keller S.A. is today rated as among the best Spanish companies for the manufacture of musical instruments including Spanish guitars and xylophones. Its main export markets are in Europe, the US and Asia.
Recent
Stories
Apple
might
lose
monopoly
Two
more
classical
music
channels
on
AIR