To manufacture hydraulic pumps for excavators in India Bangalore, December 6, 2011: Wipro Infrastructure Engineering, the global hydraulics business of Wipro Limited (NYSE:WIT) today announced that it has signed a joint venture contract with Kawasaki Heavy Industries in India to set up a large manufacturing facility for the manufacture of hydraulic pumps for excavators. The joint venture will be called Wipro Kawasaki Precision Machinery Pvt. Ltd. and will entail an investment of Rs. 500 Million, with an initial capacity of 4,000 pumps which would be augmented to 15,000 pumps by 2015.
Wipro Infrastructure Engineering is the world’s largest independent manufacturer of hydraulic cylinders. The new manufacturing unit to be set up at Bangalore will be its eleventh manufacturing location globally. Kawasaki’s Precision Machinery Company, part of the US$16 Billion dollar Kawasaki Heavy Industries Group, manufactures hydraulic components and equipment used in
construction machinery as well as motor cycle, aircraft, rolling stock, ships, industrial robots, plants and equipment etc. Kawasaki manufactures a wide range of products, from hydraulic pumps, motors, actuators, valves and other hydraulic components, to hydraulic systems for machines and plants of all kinds, as well as hydraulic deck machinery, electrohydraulic steering gear, hydraulic fishing machinery, and various other applications.
Commenting on this partnership Mr. Pratik Kumar, President of Wipro Infrastructure Engineering said “Kawasaki is an established global leader in the Hydraulics industry. We are excited with this partnership which will help us to jointly bring leading edge technology products to our customers in this very promising growth market. With this partnership, we will be able to expand our product portfolio in the hydraulic segment. The localization will offer improved time to market advantage and enhanced customer service.”
Mr. Makoto Sonoda, President of Kawasaki Precision Machinery Company said “We are very happy to partner with Wipro in this venture. India is a very important growth market for us – Wipro and Kawasaki will together bring its combined strengths to bring superior hydraulic products to our customers in this region”
The overall Construction Equipment market in India is likely to grow to US $20 Billion by 2020-21. Wipro and Kawasaki intend to tap the growth potential in the Indian market with multiple mega-infrastructure projects planned by various public-private sectors, making high quality excavator pumps available at a competitive price.
The manufacturing facility will produce hydraulic pumps for excavators catering to a range of 7 ton to 20 ton excavators. The plant located at Bangalore will start operation in July 2012 and will localize the production of the hydraulic pumps to a large extent.
For Further Information, please contact:
Media -India
Chaya Ganapathy, Wipro Limited
+91 9986447005
chaya.ganapathy@wipro.com;
Investors
Mr. Aravind Viswanathan, Investor Relations, Wipro Limited
+91 – 80 – 39916143
aravind.viswanathan@wipro.com
About Wipro Infrastructure Engineering
Wipro Infrastructure Engineering, a division of the USD 6 Billion multi-business corporation Wipro Limited, manufactures and provides precision-engineered hydraulic cylinders and truck hydraulic solutions for the infrastructure and related industries. Headquartered in Bangalore, India, Wipro Infrastructure Engineering has over six decades of experience and is the largest independent Hydraulic Cylinder manufacturer in the world. It has ten manufacturing facilities in India, Sweden, Finland, China and Brazil with customers across India, Asia-Pacific and Europe.
About Wipro Ltd
Wipro Limited provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro also has profitable presence in niche market segments of consumer products and
lighting. Wipro’s ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange – Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com and www.wipro.in
Wipro’s forward looking and cautionary statements
Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic investments, withdrawal of fiscal governmental incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
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