Business Daily from THE HINDU group of publications
Saturday, Jul 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jul 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Marketing
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Channels and Franchises Web Extras - Engineering Italy’s Aston to enhance dealerships in India T. Murrali Chennai, July 18 Italy-based hydraulic and pneumatic sealing systems major AS Aston Seals spa will soon enhance its presence in India by setting up dedicated dealerships. The Managing Director of the company, Mr Stefano Serri, told Business Line that the products manufactured by the company for hydraulic segments had been sold in India for the last seven years through four dealers, who were also dealing in other brands. He was in India recently to kick-start a market study and identify potential dealerships. Aston makes wiper seals, rod seals, piston seals, guide rings and lathe cut products for hydraulic manufactures, off-the-road vehicles and construction equipment. It makes around 20 million pieces in 30 families of components. While there is a demand from Indian market for about 5,000 varieties of seals and rings manufactured by Aston, only about 10 per cent of it are sold by three dealers (two in Bangalore and one in Chennai), he said. Therefore, the scope for providing complete solutions to customers was minimal, he said. Seals play a vital role in performance of hydraulics in terms of efficiency and enhanced machine available time. The market size in India for these products is about €50 million and over 80 per cent of it is controlled by few European and American MNCs including NOK-Freudenberg, Busak Shamben, Hallite and Parker.
Aston holds about 10 per cent market share in Italy, which is the second largest market in Europe for hydraulic seals. The current size of Italian market for these products is €50 million growing at 1-2 per cent a year. “Though India is equal to Italy at present in terms of market size, it has been growing at around 10 per cent a year. The Indian market will double in five years and we cannot afford to miss this opportunity,” he said. “At present our revenue from India through the three dealers is around €80,000 a year. Our plan is to have 10 – 15 dealerships and we hope to get more than €1 million in two–three years,” he said. The company is present in 38 countries and the total sales in 2007 were €8.5 million (Rs 58 crore). This year it will cross €10 million, he added. More Stories on : Channels and Franchises | Engineering
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