India's L&T sets RM950m target for Tamco

MUMBAI: India's leading engineering, construction and technology firm, Larsen & Toubro (L&T), plans to push the revenue of its Malaysian unit, Tamco Switchgear (Malaysia) Sdn Bhd, to RM950 million by 2016, from RM450 million currently, by way of expansion, said adviser to the chairman R.N Mukhija.

"Since we acquired Tamco, we have doubled the revenue by continuously investing in research and development (R&D)," he said.

L&T acquired Tamco, a low-voltage switchgear manufacturer, for RM330 million in 2007. Tamco exports 70 per cent of its production.

"Tamco, as part of L&R, has invested about RM36 million in R&D to make the products world class. As of today, the switchgears produced by Tamco are as good as other peer products in the rest of the world," said Mukhija.

"We are looking for another manufacturing place as well and if possible, closer to our current plant in Bukit Raja, Klang," he said.