Mr.R.N. Khanna, CMD - Control group and EFACEC Chief Executive, Mr.Luis Filipe Pereira announced the formation of a JV at a press conference in New Delhi on 31st Jan 08. Mr.R.N.Khanna added further that “the JV will set up its manufacturing facility at Greater Noida, UttarPradesh to meet the domestic demand of switchgear and also export them to its existing markets, spread over more than 73 countries, across the globe”.
The EFACEC Group too seemed bullish on the Indian Switchgear market, which according to statistics, grows at 25 percent a year. EFACEC Chief Executive, Mr.Luis Filipe Pereira, who was also present at the news conference said “We have high expectations from the Indian market”.
Indicating that both companies would expand their cooperation in the future, Mr.R.N.Khanna briefly elaborated on the plans to be executed together.
