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Bangalore, Sept. 11 Machine tool company Bharat Fritz Werner today announced the setting up of a wholly owned subsidiary in Germany with the objective of expanding its export market and using the gateway for strategic alliances with vendors or even for acquisitions, to lower the impact of the stronger rupee which is posing a competition to its domestic market. The main objective is to enter the high tech area to exploit its brand name in Europe.

Disclosing this here, Mr N.N. Upadhyay, Director, Bharat Fritz Werner (BFW), said the company has opened its sales–cum-technical centre in Kornwestheim, near Stuttgart to cater to the nearby markets in Austria, France and Portugal.

He said the subsidiary will also be leveraged for acquiring companies specialising in critical components for machines to reduce overall cost to its customers, in both domestic and export markets.

The multi-purpose centre is to be staffed with five people, including sales and application engineers to promote BFW’s products and cater to the after-market services.

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