TUV Rheinland to invest Rs 150 crore in India
04 Oct 2012
TÜV Rheinland India, a wholly-owned subsidiary of German global services provider TUV Rheinland Group, is to invest Rs150 crore for its expansion plans in India.
As an independent third party, TÜV Rheinland tests, monitors and certifies products, installations, processes, management systems and services based on statutory requirements, relevant performance indicators and standards. The company itself is actively involved in developing those standards.
The current investment would be utilised primarily for setting up new testing laboratories and expanding the capacity at its existing facilities in Bangalore, TÜV Rheinland India said in a statement.
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. 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,'' said M Bhaskar, Director, TUV Rheinland India.
''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,'' Bhaskar added.
TÜV Rheinland India had started its operations in 1996 and it caters to the Indian market as well as Sri Lanka, Bangladesh, Pakistan, Nepal, Bhutan & Maldives markets. TÜV Rheinland India with local headquarters at Bangalore is active in 23 locations in India.
