Cattini India Inaugurates State-of-the-Art Manufacturing Plant in Pune
Pune, Maharashtra Mar 8, 2024 (Issuewire.com) – Cattini e Figlio Spa, an Italian MNC, has followed Prime Minister Shri Narendra Modi’s initiative of ‘Make in India’ and made a significant investment by establishing a state-of-the-art manufacturing unit in Pune’s Sanaswadi area. The facility, with an investment of several millions, will focus on producing various machinery products, including gears, shafts, and synchronizers. The new entity will operate under the name Cattini Power Transmission Pvt. Ltd.
During the inaugural ceremony, Lorenzo Cattini, Chairman of Cattini Group said that “This venture is expected to provide economic stability to the region”. In the initial phase, the company aims for a turnover of 45 crores. As the project progresses, the target turnover for Phase 2 is set at 250 crores within three years. Looking ahead, Cattini India aims to achieve a substantial turnover of 650 to 700 crores within five to seven years.
Massimiliano Bennici, Director-Cattini Group, highlighted the strategic significance of this investment. He stated, “This marks Cattini’s entry into the Indian market and represents a crucial step in our growth strategy to expand our presence in the Asia-Pacific region.” The new facility will not only create employment opportunities but also establish Pune as a manufacturing hub.
Thomas Mathew, Director, Alcor Cross Border M&A Pvt. Ltd., expressed Alcor’s significant role in structuring, planning, executing the transaction, and setting up Cattini’s manufacturing facility in the Indian market. Alcor’s M&A expertise and their role as a trusted strategic advisors will propel Cattini’s Asian debut towards phenomenal success.
Lorenzo Cattini expressed pride in the team’s efforts and thanked Alcor for making his dream come true. He commended their tireless work in replicating and adapting Cattini’s advanced gear manufacturing template for the Indian market. This investment not only signifies growth for Cattini but also contributes to Pune’s industrial landscape.
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Source :https://cattini.com/
This article was originally published by IssueWire. Read the original article here.
COMTEX_448993409/2777/2024-03-09T03:35:45
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