Japan, Tokyo: Meidensha Corporation (Meiden) with annual revenues of $ 2.5 billion plans to leverage its Indian investments to compete with ABB, Alstom, Siemens and Chinese companies to provide quality and cost-competitive high voltage power transformers in global markets.
The company has targeted $ 500 million revenue in five years from Prime Meiden, Indian joint venture, that has a power transformer production facility in Nellore district, Andhra Pradesh, reports My Digital FC.
“We will now have a distinct advantage over our competitors through our investments made in India. It will make our electric transformers business price competitive and will continue to offer high quality products.” said Yuji Hamasaki, president of Meidensha Corporation told FC.
Source: My Digital FC