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On the development, Sonia Bonfiglioli, Chairman, Bonfiglioli Group, said, ?We have believed in the potential of this country since 1999, when we laid the cornerstone in Chennai. We have grown over the years, investing in plants, R&D centres, and highly specialised staff. India is a key country for Bonfiglioli, and the good results up to now show we were right when we started the business here in Chennai. This expansion in India is part of the company?s global investment strategy in production and assembly facilities. Indeed, we are convinced that our factories are the first step in bringing value to our customers. With high-tech, real-time smart production and superior solutions, we will be able to cater to the growing, evolving needs in India and in our overseas markets across the US, Italy, China and Germany.?

G Balaji, CFO, Bonfiglioli India, Fausto Carboni, CEO, Bonfiglioli Group, Kennady V Kaippally, Country Manager, Bonfiglioli India and Ravi Pisharody, Independent Director, Bonfiglioli India were present during a press meet organised on the occasion.

This new investment is part of a wider expansion plan for India, which includes the existing facility in Chennai and a plant in Mannur, located close to Sriperumbudur, both focused on making gearboxes and gear motors for mobile machinery, wind turbines and industrial processes. Meanwhile, the recently opened assembly plant in Pune, provides 90,000 units per year, serving customers in the food, packaging, cement, steel, pharmaceutical, textile, material handling, sugar, power generation, paper and water treatment sectors.

Bonfiglioli?s 2017 revenue in India reached Rs 7,332 million (Euro 91.65 million), with a growth more than 80 per cent over the past five years. With the new facility in Chennai, the company expects to continue growth next year.