INDIAN ELEVATOR COMPANY PLANS TO DOUBLE PRODUCTION

Citing the growth of the home-elevator market, Kochi, India-based Infra Elevators is planning to build a new manufacturing facility near the Kerala State Industrial Development Corp.'s Industrial Growth Centre that will double its annual production from 180 to 365 units, The Times of India reports. The company, which has two facilities with a combined annual capacity of 180 lifts, plans to finance the project with equity and credit. Infra is optimistic about return on investment, observing it currently has a 40-50% share of the home-elevator market in the state of Kerala. That market is growing by more than 50% year over year, with demand particularly strong in the cities of Kochi, Thrissur, Kottayam, Kannur and Kozhikode.