Chennai, July 29 -- City based elevator maker Johnson Lifts will invest Rs 250 crore on research and development (R&D) to develop and test high speed lifts, said an official.
"We see R&D as an integral part of our leadership in this market and will be upgrading our R&D unit with an investment of Rs. 250 crores to develop and test lifts with speeds exceeding 4 m/s," said Yohan K John, Director.
He said the company just concluded the expansion to its Nagpur unit and opened a new office in Noida, for a total cost of Rs. 54 crores.
Johnson Lifts holding about 20% market share in the Indian elevator market will also be expanding the existing facility at Sengadu near Chennai.
UNI VJ GNK
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