Team Herald
PANJIM: The Pai Kane group is looking at new directions as it seeks to grow into a Rs 600 crore company by 2019. The company is expected to ink an agreement with a South Korean company in January 2016 for a stand by unit. In addition the group has signed up with Dentz a German major for marine propulsion units and gen sets.
Atul Pai Kane owner of the group said these initiatives would drive growth in the group in the years to come.
He said “We have our components division which manufactures latching devices and is a single vendor to some very large engine manufacturers. We manufacture composites which find customers in the automobile industry and concrete pump manufacturers. We have embarked on a journey to develop components for earth moving equipment for a fortune 50 multi- national company”.
The company’s products are used in 20 Indian states and 50 countries. Sales from the international market account for almost 75% of the groups turnover. The company now intends to develop markets for its products in 100 countries by December 2016.
The group has now entered the Latin American market recently executing an order for Bolivia and receiving repeat orders from them besides Nicaragua and Mexico. The group has been the sole gen set provider for the Formula 1 in Singapore which is the only current night race at Formula 1. Over three years the company has delivered 85 sets.
As part of the group’s expansion, Creative manufacturing Solutions, a group company has now ventured into making sheet metal components. For the last 8 months the group was working in project mode and is now launching production for 5 multi- national customers. They hope to do the same for 20 such customers by 2017.
The group is involved in Diesel and Gas Gensets, Turnkey Projects, Electricals, Composites and Contract Manufacturing.
