Bonfiglioli Transmissions Pvt. Ltd., a 100 per cent subsidiary of the Bonfiglioli group of Italy, plans to invest an additional Rs.40 crore in its plant in Sriperumbudur, near Chennai. An investment of Rs.60 crore had already been made in the facility, which is the second plant of the company in the country. The unit manufactures gearboxes for industrial applications. The first plant is also near Chennai.
Apart from making components for gearboxes, it makes complete gearboxes for windmill and mobile applications in the construction industry.
The additional investment, according to M. Ganesh, Director, is to enhance the capacity in terms of machines and make gearboxes to cater to various other industries, including machine tools, water treatment, mining and steel mills.
Bonfiglioli group President and CEO Sonia Bonfiglioli said the expansion was in tune with the group's policy to invest more in emerging markets such as India. The group was also keen on investing in a research and development facility in the country as it found the engineers “fantastic”.
According to Mr. Ganesh, the Indian subsidiary posted a turnover of Rs.530 crore in 2011-12, which includes exports to the tune of Rs.125 crore. The company, he added, was considering getting into manufacture of photovoltaic solar inverters.