Coimbatore, June 16 The Rs 500-cr Elgi Equipments Ltd (EEL) has set up a subsidiary — Elgi Gulf FZE — at the Sharjah Airport International Free Zone in UAE.
The Coimbatore-headquartered industrial air compressor manufacturing major perceives this move as a significant step towards increasing its international revenues in the coming years.
Mr V.T. Govindarajan, Director (Global Business), EEL, said that the subsidiary would be a full-fledged sales and service organisation. “It would enable us to offer prompt and speedy service and deliveries with short lead time. This office-cum-warehouse facility would enable us to expand our product offering in the fast-growing West Asian market.”
The company is gearing up to emerge among the top five compressor players in West Asia. “We have been active in this market for 10 years. Elgi Gulf will initially serve the Gulf Cooperation Council markets and eventually expand its presence in West Asia and North Africa,” he said.
Dr Jairam Varadaraj, Managing Director, EEL, said “we have been providing quality air compressors and catering to their service needs at competitive rates.”
West Asia accounts for over 20 per cent of EEL’s revenues from international operations.