Financial Daily from THE HINDU group of publications Thursday, Nov 25, 2004 |
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Industry & Economy
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New Projects Rittal to invest $5 m in Indian subsidiary Our Bureau
Bangalore , Nov. 24 RITTAL GmBH & Co plans to invest $5 million in its Indian subsidiary's expansion programme. As per the blue print for its expansion, Rittal India Pvt Ltd will be increasing the total area at the Doddaballapur plant to 23,000 sq m from the current 10,000 sq m. It would also set up a fully automated painting plant as well and add several new machines and assembly lines to step up its production capacity by five fold, said a company release. Rittal India plans to introduce dedicated lines for MCCs (motor control centres), control desks, stainless steel enclosures, IT networking and server racks, including the latest TE 7000 range of networking and server racks besides cooling units along with several new products. It will also develop and supply new low-cost design versions of products required for markets in Asia-Pacific, West Asia and South Africa. The $2-billion German company commenced its operations in India in 1997. Initially, Rittal GmBh will invest $1 million (around Rs 4.5 crore). The first phase expansion is expected to be completed by January 2005 and result in an increase in capacity of over 30 per cent. The second phase of expansion with an additional investment of $4 million (around Rs 18 crore) is expected to be completed by the end of next year.
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