Jose Nicolas Correa, President, Nicolas Correa S.A.
Tell us about Nicolas Correa and its product range?
Nicolás Correa S.A., founded in 1947, merged with Industrias Anayak and today is the parent company of the Nicolás Correa Group, one of the leading industrial groups in Europe. It is known for innovation, conception, design and manufacture of milling machines across the globe.
We are mainly known for our high-end milling technology that is backed by our more than 60 years of experience in the field. We have a huge range of milling machines like bed-type milling machine, bed-type with rotary table milling machine, travelling column milling machine, bridge-type milling machine and gantry milling machine. Apart from this we also have several boring machines that cater to the specific need of customers.
Since the customer requirements keeps on changing, we continuously innovate and introduce new machines as per the demand. For example we recently launched a machine that can be used for both milling and turning.
Can you brief us about the technology trends in machine tools? Milling machine in particular?
Lately machine tools technology, particularly Milling Machines are going to be dynamic. Customers these days are looking for products that are more precise and can perform multiple tasks in one machine. In the past there were lathes, milling machines and there were machining centers, now there are companies who are making lathes that can also mill or machining centers that can also undertake turning operations. Looking at such demand, I think, companies like us have to be prepared to innovate as the customer requirements are changing rapidly. People want one machine to do multiple tasks as there are space constraints.
Can you please tell us about your R&D activities?
We are investing roughly about 5-6% of our turnover in R&D activities yearly and we have been doing this on continuous basis. R&D is very important for Machine Tool Companies and you have to keep on investing. We are basically investing in the modernization of our machines to make them more dynamic thus resulting in more productivity for our customers. We are going to make more and more multitasking machines.
Which is the most promising market for you?
Germany and China are the leading markets for us. Apart from Germany, some other countries in Europe also look promising for us. In regards to sector wise, recently we have seen important developments in the aerospace industry in Europe, which is driving some good revenue for us. Apart from this, energy sector looks promising, but it has uncertainties as well. In India, we see a good future in the Railway industry and it’s going to grow in the coming years.
How do you see the Indian market?
India has made great progress in the recent years and has lots of opportunities in coming days. People are using high-end technologies and investing in infrastructure, which is a good sign for us. We have had a difficult time in India in the last 2-3 years. In fact, this made us think whether we did a good decision to invest in India or not, but today I can confidently say that it was indeed a great decision.
Nicolas Correa’s products are considered as high-end technologies. Tell us more about your business in India, as Indian companies are known to be cost conscious.
The challenge we have is to convince our customers and spread awareness about latest technologies and its benefits. Our machines are going to be a big investment for buyers. So it is a tough task to convince them our application approach that their components can be made very efficiently by using our machine, and thereby saving time & money. We explain them our latest technologies and help them see the ROI and profitability.
There are few Taiwanese and S Korean boring machine providers in India. Is it a threat for your products? What do you do to stay ahead in the competition?
With technology! The only way we can compete is with our superior technology. Technology is the only differentiator in any business. If we can prove to our customer that they can get better ROI with our machine, I think we will be able to beat our competitors. So even if we are 20% more expensive but reducing the cycle time by 50% and increasing the overall revenue, I am sure we will have better adoptability.
How much do the Asian countries contribute to your overall business?
China is the second biggest market for us in terms of sales and India is rapidly becoming one of our top markets. Apart from these we have sold few machines in South East Asia. But, in my opinion, the future lies in China, India and S Korea. We have recently signed an agreement with Doosan, it will help us penetrate into the Korean market.
Any other plans for India?
My vision today is to support our Indian office to grow. The last 2-3 years have been tough for us. But we have renewed our faith in the Indian market and are planning to invest more in India. I also feel that in the coming years Indian revenue is going to play a major role in our over all sales globally. Our customers are also very positive about the growth of the Indian manufacturing industry, which is a boost to our confidence.
