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Chennai, Jan 22 (IANS) Danish company Danfoss A/S will be increasing its exports of power solutions products out of India by adding two control valve production at its Pune facility, said a senior official.
He also said the company is in talks with Indian trucks and buses makers to supply innovative electrification solutions.
"We are in the process of shipping out two valves that controls operation of machines. The products will be shipped to Europe, North America and China," Domenico Traverso, President-Work Function Division and also Danfoss India Board Member told IANS over phone from Pune.
He was in Pune where Danfoss Power Solutions' new production facility at an outlay of about 15 million euros was inaugurated on Wednesday.
"The two products are now being made in Danfoss' plants in China and North America. These products have demand in India and overseas," Upinder Razdan, Managing Director, Danfoss Power Solutions-India told IANS.
The 7 billion euros revenue Danfoss may turn Pune as a major hub for these control valves in the future, Razdan added.
According to him, the company is putting up a capacity for 50,000 sections per annum.
On the local content in the products, Razdan said it is 95 per cent.
The Power Solutions division of Danfoss is a provider of mobile hydraulics for the construction, agriculture and other off-highway vehicle markets.
The product portfolio includes electronic controls, pumps, steering, mobile electrification, pumps and valves, motors, sensors and transmitters and others.
"The main sectors we serve are construction/farm/material handling and Danfoss Power Solutions contribute about one third of Danfoss' global revenues," Traverso added.
Traverso said the division is involved in electrification and supply solutions for buses and trucks which is relative a new segment for the company.
Danfoss officials told IANS that the company is in talks with Indian trucks and buses makers for their solutions.
"We also serve autonomous and connected vehicles markets. We are working with few tractor companies in India. The e-steering is connected to GPS and as the tractor plies on a particular path there will be savings in fuel consumption as well," Traverso said.
According to Traverso, the size of the global market that Danfoss Power Solutions addresses is about 12 billion euros and last year the market was flat.
"However, this year we expect to log three per cent growth by gaining market share. We see growth happening in Europe and China. In the marine sector, there is increased demand for hybrid ferries," Traverso added.
"India region is among the top ten markets for Danfoss Global in terms of business, with Danfoss Power Solutions being a critical contributing element to the growth of our business in the Indian sub-continent," Ravichandran Purushothaman, President, Danfoss India Region told IANS.
According to him the power solutions business over the past five years has seen strong double digit CAGR growth.
Danfoss has a major facility here.
--IANS
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