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Premo has announced that it intends to build a company in India, following its successful experience in Morocco and China. The intent is to develop this market locally, which in 15 years could be the second largest economy on the planet.
The Spanish group expressed its decision during the latest mission by Spanish companies to India, which was attended by a number of participating companies, such as Navantia, ACS, Ficosa and Telvent.
Premo took the opportunity to make contacts to develop the Indian market, where the company already has dozens of clients, including Nokia India. The company formalized two commercial contracts with companies in Mumbai for exclusive marketing of the RFID and EMC products, which currently generate nearly €500,000 in sales in India. The company hopes to increase that amount to €2 million within the coming two years.
The Indian market is showing major growth and potential in the fields of renewable energies, led by Suzlon, one of the world’s largest manufacturers of wind turbines, for which Premo has special technology for current transducers and EMC filters. The Indian automotive industry is also growing at a rate of 15%, despite the global recession, and manufacturers such as Mahindra and Tata will soon use advanced technologies for electric and hybrid vehicles in which Premo has latest-generation components.
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11/19/09
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