Financial Daily from THE HINDU group of publications
Saturday, Aug 02, 2003
Financial Daily from THE HINDU group of publications Saturday, Aug 02, 2003 |
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Corporate
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Alliances & Joint Ventures Rane Engine signs pact with German co Our Bureau
Mr L. Ganesh, Vice-Chairman and Managing Director, Rane Engine Valves Ltd (right), and Mr Alexander Count Matuschka-Greiffenclau, Senior Vice-President, Operations, Deutz AG, at a press conference in Chennai on Friday. — Bijoy Ghosh
Chennai , Aug. 1 RANE Engine Valves Ltd (REVL) has entered into a five-year supply contract with Deutz, a German company that manufactures diesel and gas engines for a wide range of applications. Consequent to the contract, REVL has begun investments in scaling up its capacities at its two main plants, at Chennai and Hyderabad. Once the scale-up is complete — in another 15 months — REVL's supplies to Deutz would be worth Euro 2.4 million, twice the value of its current supplies to the German company. At this stage, REVL will be the sole supplier of valves to Deutz. The Rs 4-crore project for capacity expansion at Chennai plant is half way through. Expansion of the Hyderabad plant will call for a lower investment — Rs 1.8 crore — because a foundry exists at the plant. Once the expansion programmes are over, each plant will have a capacity to produce 1.2 million valves per annum. Announcing this at a press conference here today, Mr Alexander Count Matuschka-Greiffenclau, Senior Vice-President, Deutz, said that his company was in negotiations with REVL to buy two other components — valve gates and tappets. Mr L. Ganesh, Vice-Chairman and Managing Director of REVL, noted that the company had been supplying to Deutz for well over a decade now. Last year, the company received the `Best Supplier Award' from Deutz in recognition of its products and service support. Asked if Deutz would set up an engine manufacturing unit in India, Mr Matuschka-Greiffenclau said that the company was examining the feasibility of doing so. Out of camshafts CHENNAI: Rane Engine Valves Ltd has quit manufacturing camshafts, because of low volumes. It has sold its camshaft plant to Mahle Migma of Indore (a company owned by Germans) for a consideration of Rs 1.8 crore, Mr Ganesh said.
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