According to reports, Italian gearbox maker Bonfiglioli Transmissions has set up its second plant at Sriperumbudur near Chennai. It has already invested about Rs 60 crore in the facility, plans to put in another Rs 40 crore for expansion and an R&D unit.
The company is present in India since 1998 and has so far invested about Rs 650 crore. It designs, manufactures and distributes a complete range of gear motors, drive systems and planetary gearboxes for segments including industrial processes, automation, mobile and renewable energy applications. The parent reported about Rs 5,000-crore revenue last year of which the India business contributed close to Rs 550 crore. While the industrial vertical adds about 40 per cent of the India arm’s revenue, the mobile and windmill business jointly contribute 55 per cent and the rest comes from the emerging photovoltaic segment.
“Despite the global economic slowdown, 2011-12 has been the year in our history. We continued to invest in new and emerging markets through the slump. The company invested close to Rs 150 crore in expansions in each of the last three years. Since India is our top market, we have been putting our money here,” said Sonia Bonfiglioli, chairman and CEO of the company.
The second facility near Chennai would be dedicated to industrial products. The company has so far been making small- and medium-sized motors. The focus now would be on larger products for heavy-duty applications. While it has already localised about 80 per cent of component sourcing in India, Bonfiglioli would strive to procure from domestic suppliers for the new applications, she added.
“We have so far manufactured and sold over 22-lakh gear boxes and gear motors from our Chennai plant. Extending it further, the second facility and the R&D unit would not only cater to the growing domestic market but also to our global customers,” Bonfiglioli said.