Salzer Electronics is looking to double its turnover to Rs 600 crore in three years and is also in discussions with some European manufacturers to develop and market large transformers, its top official said today.
With these new ventures and expansion strategy, Salzer, in which L&T has 26 per cent stake, is looking at a 30 per cent growth in the next three years.
"The turnover is expected to touch Rs 390 crore in the current fiscal, Rs 470 crore plus in the next fiscal and Rs 600 crore at the end of third year," Salzer Electronics Joint Managing Director and Chief Financial Officer D Rajesh Kumar told PTI.
The city-based maker of switchgear and cam operated rotary switches said it will soon come out with two new products in collaboration with a US-based firm, C3 Controls.
"In technological tie-up, Salzer will manufacture and market contact overload relays and meter protection circuit breakers and sell them back in the US," Kumar said.
The products would also be marketed in India under Salzer brand.
On exports front, the company would focus on markets in Africa including Kenya, Tanzania, Egypt and Tunisia. In Europe, it will also focus on Eastern European nations like Romania, Hungary and Poland, he added.
