Sean Lyu, MD of RayTech Group
The Singapore-based company, which makes X-ray industrial inspection equipment in Malaysia, Singapore, and the US, is eyeing the $300 million industrial X-ray inspection market in the country over the next three years to five years. Noting that India is a growing market for the product, he said, the cumulative capacity of their factories manufacturing the X-ray industrial inspection equipment was 500-600 units. The plant that would be established in India will add a capacity of another 600 units, he said. To develop a factory of this scale will require an investment of $10 million,” he added.
Asked whether the company is exploring any acquisition deals globally, Lyu said, “Currently, we have an ongoing deal in the UK, and Malaysia. Chennai: RayTech Group, a provider of industrial X-ray inspection solutions, is looking to set up a manufacturing facility in India. “We are looking at all options such as greenfield, brownfield, and acquisitions. We are hoping for some new deals in India very soon. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai
Ray Tech India, which is part of the RayTech Group, entered the Indian market in Aug last year.