According to reports, Schaffner, Swiss maker of energy-efficient electronic components such as magnetic components and harmonic filters, sees major opportunities in India. It plans to set up a manufacturing facility in the country.
“We are yet to decide on the size and location of the proposed facility. It may take between 18 to 24 months to set up the facility,” Mr Sunil Kumar, Business Development Manager-India, told Business Line.
The facility will manufacture the entire range of Schaffner products and solutions. The Group’s products and services include EMI (electromagnetic interference) components, harmonic filters and magnetic components, apart from developing customised solutions.
These components are deployed in energy-efficient drive systems and electronic motor controls, wind power and photovoltaic system, rail technology, machine tools and telecommunications. Sectors such as transportation (locomotives), elevators & cranes, medical (X-ray and laboratory equipment), military (aircraft and ships), telecom and power use these components.
Mr Kumar said the Group’s Indian revenues were about €1.5 million, after entering the domestic market in 2010. “We are aiming at revenues of about €10 million in the next five years,” he added. The Asia-Pacific market for the company at present accounts for 33 per cent of its global sales. The target is to increase this share to 40 per cent in the next four years.
The company feels that with the Indian railway system being upgraded in the next five years, there would be significant demand for magnetic components used in metro trains. It will also be tapping into the photovoltaic and wind turbine market.