French LV power giant Socomec enters Sri Lanka via Indian subsidiary

Thursday, 8 February 2024 04:19 –      – 86

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Socomec India Regional Managing Director Meenu Singhal (left) and CFO and APAC Industry Controller Devesh Singhania

 


  •  Move as part of strategic expansion plans by Socomec India; appoints General Manager to steer the company’s initiatives in Low Voltage power management in emerging markets of Sri Lanka and Bangladesh

Socomec India, part of France based leading global specialist in Low Voltage (LV) power management, yesterday unveiled its ambitious expansion plan.

The Chennai headquartered French powerhouse is set to venture into the markets of Sri Lanka, effective immediately. Termed as ‘Greater India,’ this strategic move consolidates into a unified business entity, marking a significant milestone for Socomec India and opening up new opportunities for business growth.

Socomec India Regional Managing Director Meenu Singhal said: “Our commitment to meeting the evolving energy needs with innovative power solutions in the Asian market remains unwavering. Engineered in Europe and proudly manufactured in India, our products are poised to make a substantial impact in the markets of Sri Lanka and Bangladesh. This expansion solidifies our dedication to the ‘Make in India’ initiative, with India serving as a pivotal hub for Socomec’s strategic growth in the Asia Pacific region. Our adherence to global quality standards positions us to navigate this journey with ease. We look forward to building lasting partnerships and empowering businesses with sustainable and efficient power solutions, further strengthening Socomec’s position as a trusted leader in the industry.”

With a recent Euro 5 million investment by Socomec Group in the Indian market to enhance manufacturing capacity, the goal is not only to meet local demands but also to cater to exports to Sri Lanka and Bangladesh. Socomec India is energising the country through its innovative power solutions, including uninterrupted power supply, power switching, and monitoring solutions. Leveraging cutting-edge technology, these products are tailored for data centres, manufacturing and process industries, healthcare, infrastructure, commercial buildings, and renewable energy. With a focus on local presence, these product categories will now be available in the Sri Lanka and Bangladesh markets. With this expansion, Socomec India aims to double its revenue in these regions within the next three years.

To fortify this ambitious growth plan, Socomec announced the appointment of Suhard Amit as the General Manager, tasked with steering the company’s initiatives in the emerging markets of Sri Lanka and Bangladesh.

Amit, with a distinguished career spanning over 25 years in diversified market segments, brings a wealth of expertise to the role, positioning him as a key driver of Socomec’s strategic endeavours in these dynamic markets.

As Socomec India embarks on this exciting journey of expansion, the company remains dedicated to delivering excellence and innovation in power management. The commitment to sustainable solutions and superior quality will not only benefit businesses in Sri Lanka and Bangladesh, but also contribute to the overall development of these regions. This move contributes to the broader South Asian Association for Regional Cooperation (SAARC) initiative, promoting economic cooperation and regional integration. The ‘Greater India’ vision positions Socomec as a catalyst for cross-border trade and cooperation within the SAARC nations.

Established in 1922, Socomec is a globally renowned specialist in Low Voltage (LV) Power Switching, Monitoring, and Power Conversion products, dedicated to managing power and safeguarding people, equipment, and installations. Offering 24/7 Expert Services, Socomec ensures the reliability and optimisation of end-users’ equipment.

With a workforce of 3,900 employees, 12 production sites, and over 30 subsidiaries spanning five continents, Socomec Group is a key player in the industry. Headquartered in Chennai, Socomec India boasts branch offices across 12 locations nationwide, with a cutting-edge manufacturing facility situated in Gurugram, Haryana.

Leveraging over a century of expertise, the Group is committed to constant innovation, enhancing energy performance in data centres, healthcare, infrastructure, as well as industrial and commercial sites. As a recognised expert, Socomec delivers state-of-the-art solutions, ensuring the highest availability of electrical power supply to critical and non-critical facilities. Tailored to customer needs and fully compliant with international standards, the company consistently upholds excellence in power management.

 

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