How did the year 2016 pan out for Bonfiglioli? What is your view on the Indian equipment market and where you see growth for your products in the coming years?
2016 has panned out well for us, we achieved our highest ever turnover and outgrew the market, an important performance parameter that gives us confidence in our convictions. Given the infrastructure requirements of India and the focus of the government on bridging this deficit, we remain optimistic on the Indian market. The Indian market has a low equipment density, so we expect growth across equipment segments. However, this growth might not be secular with specialized high productive equipments gaining ground as the market expands and matures. Our varied product portfolio will help address the growing need of power transmission solutions for these equipment.
As the market is becoming more competitive, OEMs are looking for intelligent solutions to improve productivity and safety of equipment. How are you helping OEMs to achieve the same?
Our key strength lies in our ability to design and develop customised solutions for a wide range of user applications. This necessitates a constant engagement with customers, right from the initial design phase, as these products have the highest levels of customisation. A local design centre in India enables us to achieve a seamless in-depth interaction with the customer, ensuring that all of the required performance criteria are met within the constraints provided, to develop a product that perfectly meets customers' expectations.
What about the features of your solutions?
Bonfiglioli has the most diverse product range of power transmissions solutions in the industry. Each of these solutions come with their unique set of features catering to specific requirements of the equipments. This broad range of solutions include highly robust 700 C Series with fail safe parking brake compatible with most cartridge-type fixed or variable displacement. Extremely compact 700 CK Series with integrated motor and valves are known for their high efficiency and smoothness of operation. Innovative 700T Series provides safest and most effective solution for all slew drive applications. Convenient 600 Series wheel drives with option of park brake disengagement for towing the vehicle during emergency. Absolutely dependable 500 Series transit mixer drives are famous for their low maintenance. Versatile 300 Series used in a variety of applications where shock loads are more a rule than an exception.
What are the equipment segments your company is currently catering to and new product lines being planned in India?
Equipment segments we cater to in construction, mining & material handling equipment are for track, wheel, drum, winch, cutter, mixer, and slew drive applications. The range of machines that these applications cover are phenomenal, ranging from small mini excavators to massive mining shovels, from stationary tower cranes to mobile tracked & wheeled cranes, from versatile self-loading concrete mixers to specialized batching plant with concrete mixers. All these equipment have their special structural, application and duty characteristics. Our vast experience in making perfectly tailored products for these requirements makes us the ideal choice for our customers to partner with. As our customers expand their product offerings that require new solutions and in us they have a willing partner capable of expanding the range of products with new innovative solutions.
How is Bonfiglioli positioned to address the client's needs i.e, timely availability of its offerings and competitive pricing which are precursors towards brand recall?
We have been present in India for more than 15 years and over the years of working closely with all the major OEMs in the industry, we have developed an unmatched range of products that have become bench marks in the industry. In fact, we are a one-stop-shop for our customers catering to their diverse requirements for different products range and by far do have the largest market share in each of these segments. What is also important for us is that we are a single source for most of our customers, indicating the trust and confidence they have in us and which we value enormously.
What do you envision for the year 2020 for the Indian market and strategies to achieve the same?
We have a very positive outlook for the future of the Indian market in construction, mining, and infrastructure equipment.
Infrastructure requirements coupled with the need for mechanization and shift to specialized, more productive equipment will generate a need for innovative gear drive solutions that have to meet specific local requirements. Challenge in such an environment remains in developing or adapting products and manufacturing capabilities that suit the specific demands of the Indian market. Bonfiglioli with its local design center & manufacturing facilities, being present for over 15 years in India and having gained a deeper understanding of the market, is well placed to take advantage of these opportunities. Keeping this in view, a new facility of 140,000 sq.ft will be built, adjacent to the current plant at Thirumudivakkam, Chennai. It will house modern assembly lines, an R&D Centre and test labs, all built with the highest standards of quality and safety, consistent with Bonfiglioli locations worldwide. Bonfiglioli is celebrating its 60th anniversary this year, but we are not looking at the past. We are looking towards the future and how Bonfiglioli can become a model for industrial development, and how we can better serve our customers in high growth countries like India. This expansion will enable us to increase our production capacity to drastically reduce lead times to customers in India and nearby countries – all with the goal to help sustain Bonfiglioli through the next 60 years and beyond.