German firm TUV Rheinland announces Rs.150 Crore expansion in India

TÃœV Rheinland India, a worldwide leader in Testing, Inspection, Certification & Training, announced that it would be implementing a Rs.150 Crore expansion plan to enhance its activities in India. TUV Rheinland India is a 100% subsidiary of TUV Rheinland Group, Germany. As an independent third party, TÃœV Rheinland tests, monitors & certifies products, installations, processes, management systems & services based on statutory requirements, relevant performance indicators & standards. The company itself is actively involved in developing those standards.

The investment would primarily be in the setting up of new testing laboratories and expanding the capacity in the company's existing facilities at Bangalore. Part of the money would also be spent to set up vocational training centres. TUV Rheinland would also scout for opportunities to acquire business which would be complimenting its existing sphere of work, be it in the field of testing and inspection and or vocational training centres. Based on suitability, the company hopes to strike a few acquisition deals by end of next year.

"The testing and certification business is at a nascent stage in India. But, with the growing consumers' awareness, it is bound to go up in the coming years" said Mr.M.Bhaskar, Director, TUV Rheinland India. "India has the advantage of an increasing domestic market in addition to the export market that throws open opportunities and challenges for inspection and certification companies like us."

"A new textile testing centre would be set up at Gurgaon and Tirupur by end of this year in addition to expanding the current facilities in Bangalore. We would also look at setting up more laboratories next year," added Mr. M. Bhaskar.

Source : Equity Bulls

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