DM Thaker, managing director of Schuler India, told The Financial Express on Wednesday that his company was not perturbed by the slowdown in the Indian economy as "Schuler, which was incorporated in 1839 (over 160 years ago) with 4,000 employees worldwide, has adopted a long-term strategy for India and funds will not be a problem."

Thaker said that though Schuler Germany had been doing business in India over the last 50 years, it opened its first liaison office only in 1994 and formed a subsidiary in 1997. Schuler India has a paid up capital of Rs 2.5 crore and an authorised capitalof Rs 4 crore.

Thaker said that there should be no going back on the liberalisation process adding that the government should remove anomalies in import duties for engineering and machine tool industry. Drawing a parallel between the strategy adopted by Schuler in Brazil and India, Rolf Kellenbenz, executive vice-president, said that his company began operations 30 years ago in Brazil and had done well. "We know Brazil is not India but we are confident that we will find solutions here," he added.

Gerd Schmelzle, vice-president (sales), said that the Schuler Group has been active in the Indian market serving different spectrum of engineering industries and has supplied its products to General Motors, Chrysler and other leading companies from abroad. "The company's global presence and its network of international manufacturing facilities guarantee successful completion of cost-effective engineering projects throughout the world," he added.

Heinrich Frontzek, in charge of public relations and marketing,said that his company has published the fifth edition of the handbook on metal forming recently. The book provides an overview of the principles of forming technology and press building. It also provides a detailed examination of major topics such as sheet metal forming, blanking, high pressure tube hydroforming and forming from solid. The book was released by the German Ambassador Heinrich Dietrich Dieckmann.