Carraro extends the Gear World project to its Indian group company Turbo Gears
Turbo Gears, a Carraro group company, has set up a new thermal treatment plant using the latest gas nitriding process. Specialising in the production of quality components, shafts and gears, the new thermal treatment plant - Gear World - is expected to enable the company to further improve the level of service to its customers and tackle the market more competitively. It is also expected to account for significant growth in Turbo Gears' turnover, which is targeted at Rs 200 crores by 2010 and employee strength in excess of 450. The company recorded a turnover of Rs 75 crores last year, which was also its second year of operation.
While the new thermal treatment plant is claimed to be a part of additional investments in emerging technologies and manufacturing infrastructure for an overall value of over Euro 20 million, Gear World is a project that started in 2007 with the objective of fostering the independent development of companies operating in the transmission and gears sector on a worldwide level. In other words, it is thus, like Turbo Gears, the Venice-based Carraro group owns SAG in Argentina, SIAP in Italy and miniGears in Italy, US and China. miniGears is also the group's latest global acquisition.
Speaking at the inauguration of Gear World at Turbo Gears, Tomaso Carraro, Chairman and Global CEO, said, "This is a new important stage for Gear World on the road to future growth. The decision to add and integrate the thermal treatment plant into Turbo Gears is consistent with the requirement for high-level technology products demanded by the market and our customers."
Turbo Gears was started in the year 2005 and is part of the three companies the Carraro group owns in India - all are based in Pune. The first to be set up in India was Carraro India in 1998 and is into the manufacture of axles, transaxles and transmissions for off-highway applications like earthmovers and tractors. The third group company, Carraro Technologies was established in 2006 and is part of Carraro global R&D. The combined turnover of Carraro group India facilities is targeted at Rs 1000 crores by the year 2010 and with an employee strength of more than 1000 people. Carraro's customers in India include New Holland, Case New Holland, M&M, Escorts, John Deere, L&F Case, Terex Vectra, Tengl and Enercon.