Business Daily from THE HINDU group of publications
Saturday, Jan 26, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Jan 26, 2008 ePaper | Mobile/PDA Version |
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Corporate
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New Projects Rane Engine opens Rs 35.5-cr manufacturing unit near Tiruchi T. Murrali Tiruchi, Jan. 25 Rane group company Rane Engine Valves Ltd (REVL) has an opportunity to treble its turnover by supplying engine valves to Volkswagen, according to the Corporate Executive Director of Volkswagen, Germany, Mr Alexander M. Seitz. Inaugurating the company’s fifth manufacturing facility of REVL today at Kasavanur village in Pudukottai district, near Tiruchi, Mr Seitz said that REVL would have an opportunity to supply valves worth up to €36 million. At present, Volkswagen buys engine valves worth €12 million (or, 4 million valves) from Rane. Besides, Volkswagen would be looking at options to source high-pressure die-castings from the Rane Group, he said. Created at an investment of Rs 35.5 crore, the new facility will add six million valves to the existing 36 million valves produced by four plants of REVL, situated in Chennai and Hyderabad. The Chairman of Rane Group, Mr L. Ganesh, said that revenues from the new plant in the first year of operation (2008-09) would be Rs 20 crore. The company would invest another Rs 75 crore for the second phase of expansion, which would take the capacity to 25 million valves per year, he said. Two new dedicated manufacturing lines would be set up during this phase to support the requirements of the new engine of Hyundai Motor India and the German engine manufacturer, Deutz. More Stories on : New Projects | Automobile Components
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