The Hindu Business Line : C&S forms venture with Italian co

ELECTRICAL installation major Control and Switchgear Group (C&S) on Monday announced that it was setting up a 50:50 joint venture company with Gewiss Group, Italy.

"The joint venture will start operating within the next six months and aims at a Rs 100-crore turnover in five years," the C&S chairman, Mr R. N. Khanna, told newspersons here.

The Italian firm is one of the biggest companies in the low-voltage segment with an annual turnover of over Rs 2,000 crore.

The joint venture company, C&S Gewiss, will target the Rs 2,500-crore domestic low voltage electrical installation market. It will set up its manufacturing base at Hardwar, Uttaranchal and would produce 250 products initially.

"The low voltage segment is growing at a fast rate in India and we want to tap the huge potential offered by the segment," Mr Domenico Bosatelli, President, Gewiss Group, said.

The Italian company has a gamut of 15,000 products under its catalogue, which it plans to introduce in the domestic market in a phased manner. "We plan to produce 250 products in India in the initial years and the rest would be imported from Italy," Mr Bosatelli added.

More Stories on : Alliances & Joint Ventures | Electrical Goods

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