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  Business   In Other News  22 Nov 2019  Germany’s Nord opens third plant

Germany’s Nord opens third plant

THE ASIAN AGE. | MICHAEL GONSALVES
Published : Nov 22, 2019, 2:19 am IST
Updated : Nov 22, 2019, 2:19 am IST

The company has an installed capacity to produce 42,000 geared motors per annum.

Nord Drivesystems, the Indian arm of the Getriebebau Nord, the Euro 699 million German global leader in developing and manufacturing drive technology, which opened its third factory in Pune on Thursday is targeting 11 per cent growth to Rs 200 crore in its topline in December 2019 calendar year.
 Nord Drivesystems, the Indian arm of the Getriebebau Nord, the Euro 699 million German global leader in developing and manufacturing drive technology, which opened its third factory in Pune on Thursday is targeting 11 per cent growth to Rs 200 crore in its topline in December 2019 calendar year.

PUNE: Nord Drivesystems, the Indian arm of the Getriebebau Nord, the Euro 699 million German global leader in developing and manufacturing drive technology, which opened its third factory in Pune on Thursday is targeting 11 per cent growth to Rs 200 crore in its topline in December 2019 calendar year.

“We will touch Rs 200 crore sales turnover this calendar year ending December 2019 despite slowdown challenges,” PL Muthusekkar, Managing Director at Nord Drivesystems India told Financial Chronicle. Last year it had clocked  revenues of Rs 171 crore.

 

He said despite headwinds in some sectors, the demand for our drive systems has been growing. “In order to meet this demand and future demand, we have opened our third factory in Pune with an investment of 2 million euros or Rs 18 cr-ore,” Muthusekkar said.

The company has an installed capacity to produce 42,000 geared motors per annum.

Tags: nord drivesystems, getriebebau nord