Italian firm Bonfiglioli will invest Rs 85 crore to expand its Indian operations, a top official said today.
The group's Indian arm, Bonfiglioli Transmissions, manufacturers and markets gearboxes and has two facilities at Thirumudivakkam and Mannur, Sriperumbudur near Chennai.
The company would be investing around Rs 75 crore for expanding the Thirumudivakkam facility.
It will be investing Rs 10 crore for setting up a new manufacturing unit in Pune, Bonfiglioli Group Chairperson Sonia Bonfiglioli said.
"We will be investing around Rs 75 crore for expanding the facility in Thirumudivakkam. It will be spread across 1.40 lakh square foot and the initial capacity will be 75,000 units per year. We expect this plant to be ready by 2018", she told reporters.
The company has two divisions -- the wind solutions and industrial business -- has set up new facility at Chakan, Pune with investments of about Rs 10 crore.
"We expect this (Pune) plant spread across 45,000 squre foot will be ready by March 2017. We expect plant capacity to be about 1.50 lakh units. It will mainly serve the Maharashtra and Gujarat markets and other markets as well", she said.
Bonfiglioli India, Country Manager (Mobile and Wind Solutions), Kennady Kaippally said, the company holds 90 per cent market share in wind segment while more than 19 per cent in industrial business.
"We have almost doubled our sales in 2015-16. We grow every year by 30 per cent compared to industry growth of 15 per cent", he said, adding last year's revenues were about Rs 750 crore..
The company serves major industrial sectors including textile, food processing, wind turbine among others.
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