Date:08/11/2008 URL: http://www.thehindu.com/2008/11/08/stories/2008110855941800.htm

Business

Ringfeder expands operations in India

Corporate Reporter

CHENNAI: Ringfeder Power Transmission GmbH, a member of VBG group of Sweden, is expanding its global presence by establishing its India operations.

Addressing presspersons here on Friday, Thomas Moka, CEO of Ringfeder Power Transmission, said India was one of the fastest emerging economies in the world and the company was already supplying its products to manufacturers in the core sectors such as Larsen & Toubro, Thyssen Krupp, FLSmidth, RRB Energy, Jindal Steel and Power and Neyveli Lignite Corporation.

According to Anders Birgersson, CEO of VBG group, the company was looking for an opportunity to start sourcing and to establish an assembling line in Chennai as it was achieving a phenomenal growth in sales in India in the last few years.

The VBG Group has two business verticals namely VBG Group Truck Equipment and Ringfeder Power Transmission.

The group has more than 400 employees with a turnover of Rs. 1,000 crore. The power transmission business represents nearly 20 per cent of the turnover.