Bonfiglioli to invest Rs 40 crore
The mechanical power transmission systems producer Bonfiglioli India will invest Rs 40 crore on its second manufacturing unit coming up near Chennai. The 100 per cent subsidiary of Italy-based Bonfiglioli Group entered Chennai in 2000 by setting up manufacturing unit at Thirumudivakkam near here. The company has invested around Rs 630 crore in the country so far, Bonfiglioli India Director and CEO M Ganesh said. Noting that 2011 was the ?best? year for the company as it grew by 18-20 per cent compared to previous year, he said, ?for this financial year they intend to grow by 18 per cent.? In 2011-12, the company had revenues of Rs 530 crore. Bonfiglioli Group Chairperson and CEO Soni Bonfiglioli, said last year alone they invested about Rs 150 crore and described India as one of the top markets for the firm.