Chennai, Sep 28 : The Indian subsidiary of Italian company Bonfiglioli Riduttori making gearboxes, gearmotors and drive systems, on Friday announced the commissioning of its new plant near Chennai.
Bonfiglioli is a worldwide leader in manufacturing gearboxes, gearmotors and drive systems.
In a statement here, the Indian company Bonfiglioli Transmissions said the new plant at Thirumudivakkam near here has a production capacity of 75,000 units per annum to serve customers in off-highway, construction, mining, agriculture and material handling applications.
The total investment for the new plant is Rs 50 crore and with additional capacity the total capacity goes up to 125,000 units per annum, an official told IANS.
"India is a key country for Bonfiglioli, and the good results up to now show we were right when we started the business here in Chennai.
This expansion in India is part of the company's global investment strategy in production and assembly facilities," Sonia Bonfiglioli, Chairman of Bonfiglioli Group, was quoted as saying in the statement.
She also said the company will be investing in the Internet of Things and machine learning.
Last year, the company clocked a turnover of Rs 733.2 crore.