Financial Daily from THE HINDU group of publications
Friday, Sep 06, 2002
Financial Daily from THE HINDU group of publications Friday, Sep 06, 2002 |
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Corporate
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Announcements Rane Brake bags Rs 30-cr Rlys order Our Bureau
HYDERABAD, Sept. 5 RANE Brake Linings Ltd (RBL), a friction material manufacturing company situated at Pregnapur in Medak district here, has bagged an order worth Rs 30 crore from the Indian Railways for the supply of rail blocks. According to its President, Mr S. Sundar Ram, the order has been placed with the company after the Research Designs and Standards Organisation of the Ministry of Railways gave its clearance. He told presspersons that the total order was for 6.2 lakh blocks and it was proposed to be executed by March next year. The group's turnover for 2001-02 was Rs 500 crore of which the brakes unit accounted for Rs 107 crore. The companymanufactures brake linings which are mostly used in the heavy and light commercial vehicles, cars, tractors, trains, earth movers and two-wheelers. As much as 47 per cent of business for the company comes from the spares replacement market, 21 per cent from rails and 27 per cent from original equipment manufacturers. The company's products are used by leading domestic auto companies. It is set to supply its products directly to Toyota from next month. The products are exported to Australia, Sri Lanka, Nepal, Israel, Bangladesh, the UAE and Pakistan. It is also planning to enter the European and the American markets. Mr Sundar Ram said Rane Brakes had taken over Sri Auto Pvt Ltd a decade ago and invested Rs 19.2 crore in it for modernisation. The company's has a total capacity of 4,300 tonnes which is proposed to be expanded to 7,500 tonnes over the next five years to meet the order position. The company also caters to the needs of Integral Coach Factory at Perambur and has a tie-up with Nisshinbo of Japan.
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