Premium Transmission Ltd. (a Karan Thapar Group company), a leading manufacturer of industrial gearboxes in India, has divested its automotive gear manufacturing division in Aurangabad to Indsur Global Limited. The division was catering, primarily to some three wheeler manufacturers in the country.
Indsur Global manufactures insulator castings for the automobile sector at its Halol plant. The acquisition provides Indsur Group access to key customers and a strong platform for expansion.
Praveen Sachdev, chairman,Premium Transmissions said that the company would now focus more on its core industrial sector. Around 92 percent of the Premium Transmission's turnover comes from industrial transmission solutions, while the automotive gear manufacturing division was contributing only about 7 percent to the company's turnover.
"This is our core area and we want to take a lead in this area. Power, cement, sugar, mining are sectors driving the company's growth," said Atulya Gupta, MD & CEO of Premium Transmission Ltd.
This year the company is targeting a turnover of Rs 450 crores from its domestic operations and Rs 125 crores from international operations. The company recently acquired the entire business of Rexnord Stephan GmbH & CoKG, Germany ,belonging to Rexnord LLC, USA.
Premium Transmission Ltd. is setting up a new facility at Shendra in Aurangabad to compliment the German acquisition. This facility is being set up with an investment of Rs. 25 crores and is expected to be commissioned by March 2012.
Premium's products cater to industries such as Material handling, Sugar mills and machine manufacturing, Iron and Steel, Passenger Lifts, Cooling Towers, Dyes & Chemical, Paints & Varnish, Cement Mill and Machine Manufacturing, Paper & Pulp, Leather and Plastics, Rubber Mill and Machine Manufacturing, Food Processing & Tea, Collieries Mines & Haulages, Pharmaceutical & Starch.
Premium Transmission's first unit under the name David Brown Greaves (India) was commissioned in the year 1961 at Pune (Near Mumbai) to manufacture gearboxes in India. It was a joint venture company between Greaves Cotton & Co Limited and M/s David Brown UK. M/s Greaves Cotton & Co bought over this manufacturing facility (India) in the year 1993. This unit also manufactures lift machines with technical knowhow from Sicor S.p.a from Italy.
The second unit started its operation in the year 1993 at Falta - near Kolkata (India) manufactures standard worm/helical and application specific gear units. The third unit at Aurangabad started manufacturing PEMBRIL brand fluid couplings in the year 1978 under a joint venture between M/s Fluidrive UK and Greaves Cotton & Co which was then bought over by Greaves Cotton & Co in the year 2003. This unit also manufactures Geared Motors. The fourth unit at Aurangabad manufactures auto transmission case carburized and profile ground gears for industrial applications.
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