Crompton Greaves eyes USD 50m revenue from Brazil facility

Electrical solutions provider Crompton Greaves today said it has commenced operations of its switchgear manufacturing facility in Brazil and is eyeing a revenue of USD 50 million (over Rs 280 crore) in the first year of operations.
     
Crompton Greaves commenced operations of its new extra high voltage (EHV) switchgear manufacturing facility in Sapucaia do Sul in the state of Rio Grande do Sul, Brazil, the company said in a statement.
    
"CG expects annual revenue in excess of USD 50 million during the first year of operation. CG has already received more than USD 6 million worth of orders from utilities such as CEMIG, CPFL, CEEE, RGE and Toshiba," it added.
    
The company said it will manufacture a full range of EHV switchgear in the new facility, targeted at the Brazilian utility market segment.
    
"The total market represents more than USD 1 billion and growing..CG expects to reach more than 10 per cent of the market," The company said.
    
The facility, which is company's first facility in Brazil, will produce extra high voltage (EHV) switchgear.
     
"This new facility in Brazil will not only  provide customers with a very short lead time but will also provide a full range of services for the current installed base," CG CEO and Managing Director Laurent Demortier said.