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| Gear box manufacturer to invest Rs 75 crore |
| BS Reporter / Chennai Jun 01, 2009, 00:26 IST |
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Italy-based gear box manufacturer Bonfiglioli Transmissions is planning to invest around Rs 75 crore at its existing plant in Chennai. The proposed investment would help the company increase its present market share of 16 per cent in the industrial gear boxes to 25 per cent.
Sonia Bonfiglioli, vice president and chief executive officer, Bonfiglioli Riduttori SPA and M Ganesh, CEO, Bonfiglioli Transmissions Pvt Ltd said from 2000 the company invested Rs 400 crore at Thirumudivakkam facility, near Chennai. The company is planning to invest another Rs 75 crore by end of 2010 in plant and machinery. The proposed investment will be funded through internal accruals.
The company presently manufactures yaw and pitch drives for windmill application in India. Apart from this it caters to industries like machine tools, pharmaceutical, sugar, cement and construction.
Last year, the company’s turnover from the Indian operations stood at Rs 310 crore, while the share of exports was 30-35 per cent, and the company expects its turnover to remain around the same level in 2009, said Bonfiglioli.
She said, the present market size in India for the industrial gear boxes is estimated to be around Rs 1,500 crore of which Bonfiglioli’s marketshare is around 16 per cent. The market is expected to touch Rs 2,000 crore and company hopes to capture 25 per cent of the market in the coming years.
To increase its revenue and marketshare the company is now looking at catering to industries such as textiles, conveyors used industries like automobile, road construction and others.
Bonfiglioli is also bullish about the renewable energy sector in the country. Presently, the company caters to major players in the wind energy sector in India. “Going forward we would like to focus on solar and photovoltaics,” said Ganesh.
He added, focus for the future is production and sales of Yaw and Pitch DrivesôGear Motors for Windmill customers and the planetary gear boxes for diverse industrial applications and promoting renewable energy products like PV Inverters, said Bonfiglioli.
“Renewal energy business is one of the key focus for the company,” said Bonfiglioli. She noted, last year the company’s global turnover stood at Euro 200 million, of which renewable energy business contributed Euro 150 million.
The company has solutions for onshore project upto 3 mega watt (MW) and for offshore project upto 6 MW and its plans to introduce solution for 10 MW.
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