Business Daily from THE HINDU group of publications
Thursday, Nov 19, 2009
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Business Daily from THE HINDU group of publications Thursday, Nov 19, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Projects German co FEIN opens subsidiary in India Our Bureau Chennai, Nov. 18 FEIN, a German manufacturer of power tools, has launched its Indian subsidiary, FEIN Power Tools India Pvt Ltd, to tap the growing domestic market. To be headquartered in Chennai, the subsidiary will first focus on the southern market and slowly move to other regions. The domestic market for power tools is pegged at around Rs 900 crore, Mr Richard E. Geitner, Chief Executive Officer, C. E. FEIN GmbH, told newspersons. FEIN, founded in 1867, produces application solutions for metal working, interior outfitting and automotive sectors. Mr Ameer Ahamed Munaff, Managing Director, Fein Power Tools India, said in a year’s time the company would open offices in Delhi, Pune and Hyderabad. Fein has been supplying to companies in India for over two decades. The subsidiary is in line with the plan to provide customers ‘high quality products’ in a ‘cost-effective’ way and making them available at the right time. FEIN power tools and modular belt grinders are marketed by retailers. More Stories on : New Projects | Engineering
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