“In terms of the market, I would say that 2016 had started showing traction for manufacturing, before it lost its steam towards the end of the year. The production of two-wheelers dropped very significantly by 40%, and the rest of the automobile industry by about 20%. This would have a very significant impact on the cutting tool industry or, for that matter, the machine tool industry, as 65% of metal-cutting in this country is largely automotive and automotive parts,” said Krishnan. Yet, he admitted that the sentiment among customers is positive and we should start seeing traction soon.
TaeguTec, like most consumables companies, used IMTEX to build on their brand. While they did not launch any products at the trade show, they exhibited a range of solutions that they have already introduced during the past 12 months. In the grooving family, they have multi-cutting edge grooving solutions for standard and tailor-made applications. In turning, they displayed a tool that supplies the cutting fluid very close to the cutting edge, which is particularly useful when machining aerospace alloys, high strength alloys, etc. In milling, they showcased many high productive milling solutions, starting from simple face milling to contour profile milling in terms of shape, size, geometry, and so on.
TaeguTec had an industry-oriented display for medical industries, aerospace, turbine manufacturing, for making large gears for wind mills, etc. With road construction activities in the country galloping to about 25kms a day under the new government, Krishnan admitted to increased demand for earthmoving equipment. While he expects automotive to pick up again, medical and aerospace continue to grow, he says. Overall, Krishnan expects a growth of anywhere between 8% to 10%, this year.