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Machine Tool Industry looks for new venue

After riding on the fortunes of Indian automotive sector growth @ close to 30% growth, machine tools industry is looking at other venues like aerospace, construction, earthmoving, and medical implants. Companies like Bharat Fritz Werner (BFW) is already doing that and is expecting a 15 % drop in sales compared to previous year. Many companies will shift to 5-day week, bring more focus on customer service, look at re-conditioning of machines without resorting to man-power cuts. Many experts feel, despite the gloom scenario much consolidation or acquisition by foreign players.

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