Machine tools manufacturer Bharat Fritz Werner (BFW) on Monday inaugurated Dr. Kalam Centre for Innovation at its premises here to work on core research and develop energy efficient and alternative material machine tools.
Named after ace scientist and former president A. P. J. Abdul Kalam, the 3, 000 square foot R & D centre has been set up with an investment of Rs. 2. 5 crore.
"I am happy to be a part of this centre's inauguration. Research and development is vital for India's manufacturing capabilities, " said Indian Space Research Organisation (ISRO) chairman A. S. Kiran Kumar inaugurating the center.
"This centre is a tribute to late Dr. A. P. J. Abdul Kalam who was the guiding force for many scientific innovations. It is indeed a great initiative that BFW will collaborate with academic institutions for R & D, " he added.
BFW is focusing on substituting imports and contributing towards Make in India programme by introducing a variety of machining options.
"Spends on R&D in India are well below the global standard across industries. As a nation we need to pay greater attention to innovate and transform, " said BFW MD and CEO Ravi Raghavan.
The company caters to global high end milling needs and has a significant share in the domestic milling market.
Nine months ago, the BFW acquired Chennai - based Proteck Machinery's Turning business and aims to end fiscal 2015 - 16 with a turnover of Rs. 900 crore.
Incorporated in 1961, BFW is a part of Rs. 2, 600 crore Kothar Group, and its products find application in automotive, defense, aerospace, die, mould and other industries.