OBO Bettermann established factory in India
A joint venture between OBO Bettermann GmbH & Co of Germany and Cape Electric Corporation, OBO Bettermann India, a local player, plans to manufacture OBO brand of electrical system components.
The German company will hold a 70 per cent stake in the joint venture with Cape Electric holding 30 per cent. The initial investment in the manufacturing facility to come up near Chennai would be about Rs 15 crore. In the first year of operations in 2009, the joint venture company is targeting a business volume of over Rs 30 crore in India.
At a function to announce the joint venture, the joint venture started assembling operations 2008 to offer lightning protection and surge protection products. This would soon be followed up with a manufacturing facility and a wider product range including under-floor ducting systems.
OBO Bettermann brand is not new to India. It has been available for long through its dealer and now partner, Cape Electric.
OBO Bettermann makes over 30,000 products for electrical systems for the industrial sector including telecom and railways, and is a 400 million (Rs 2,400 crore) company with a presence in 50 countries.Its range includes earthing systems, cable support systems, fire protection systems and related products for electrical installations and cable routing.