TN inks MoUs with Lincoln Electric, Visteon for investment worth Rs 850 cr

Tamil Nadu government has signed MoUs worth Rs 850 crore with companies including Lincoln Electric during the ongoing US visit of Chief Minister M K Stalin to attract investments, the state government said on Friday. The MoUs were exchanged in the presence of the chief minister on September 5 in Chicago between officials of the government and firms that have committed investments. Lincoln Electric, a leader in arc welding, robotic welding systems and plasma and oxyfuel cutting equipment inked a pact to invest Rs 500 crore for expansion of its R&D and manufacturing facility in suburban Chennai. Vishay Precision, manufacturers of semiconductor and electronic parts and with operations in several countries signed an MoU to invest Rs 100 crore to set up a sensors and transducers facility in Kancheepuram district, an expansion of its manufacturing unit. Visteon Corporation, an automotive electronics maker has committed Rs 250 crore for establishing manufacturing units in Chennai and ...