Pudukkottai, Jan 25: Rane Engine Valves Ltd (REVL), a division of Rrane group will achieve 15 per cent growth in its turnover during the current fiscal as against Rs 1.83 billion last year. Chairman of the Company L Ganesan told newsmen here today that with the opening of the fifth manufacturing facility of the company at Seniapatti village near here, the group would be manufacturing 36 million valves annually, matching the requirment of various segments of automotive industries, including passenger cars, light comercial vehicles, two wheelers, multi-utility vehicles, medium and heavy commercial vehicles, farm tractors, three wheelers and stationary engines.
The product mix comprises 51 per cent for light commercial vehicles and two wheelers and the rest for other ranges,he added.
He said the new facility with an investment of Rs 355 million was to churnout six million valves in the beginning and step up the production to 25 million over a period of two to three years. This plant would address the needs of Volkswagen, Germany and Scoda of Czech Republic. In future, valve ranges meant for DEUTZ would also be manufactured by the company.
He said presently, 33 per cent of the company's annual sales came from export markets. In the next five years, this should increase to 40 per cent.
Inaugurating the new facility, Corporate Executive Director Volkswagen, Alexander M Seitz assured that the company would give business to REVL worth 36 million Euros shortly as enhanced gradually from the current business value of 12 million Euros.
He said Rane group's consistency in quality and supply schedules were commendable.