Financial Daily from THE HINDU group of publications
Friday, Mar 10, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 10, 2006 |
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Corporate
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New Projects Regal-Beloit opens design centre at Hyderabad Our Bureau
Hyderabad , March 9 The US-based Regal-Beloit Corporation, a $1.4-billion manufacturer of electrical and other motors, has established an engineering design-cum-global technology centre in Hyderabad with an investment of about $4 million. The President and Chief Operating Officer of Regal-Beloit, Mr Mark J. Gliebe, said the centre would form a critical part of the company's global operations. The centre through GE has helped co-develop a product called X13, which is now being marketed globally. The 50-year-old company, which primarily began as a machine tool manufacturer, has diversified into the manufacture of electrical and mechanical motors and acquired about 25 companies in the last 25 years. Significant among them was the acquisition of the GE Commercial and HVAC motors business last year, which helped the company double its revenue at one go. Some employees at the design centre are from GE pedigree. Regal-Beloit has a manufacturing base in India apart from other locations globally. The Indian plant exports about 70 per cent of its motors and its turnover of $75 million is projected to grow to $200 million by 2008. The company is further expanding its India operations.
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