Carraro Group: foundation stone of a new production area in Pune laid during celebrations for the 20 years of Carraro India

Pune (India), 27th September 2019 - The two-day celebrations for the 20-year anniversary of Carraro India, the Group's first green field facility outside Italy, will close today. On this occasion, the first stone was laid for a new production area that will complement the existing ones in the Ranjangaon (Pune) area. and that will allow the Indian plant to significantly expand its capacity.

'Today we celebrate 20 years since the start of production of this industrial complex, which counts over 1400 employees. A truly remarkable number, if we think that the sum of the Carraro people working in all Italian plants is exactly the same. - said Enrico Carraro, Chairman of the Group, during his speech - This means a very clear thing: India is, and will remain, an essential point of reference for the future of the entire Group. Already today, with a share of over 17%, India is the Group's first destination market. Here, thanks to our ability to work at excellent levels, the Carraro brand is recognized and respected by all the major players in our reference sectors. Carraro means quality, technology, reliability'.

'The expansion of this production site, which starts on the occasion of today's celebrations with the laying of the foundation stone, will allow us to expand our capabilities towards new product ranges, such as portal axles, specifically designed for the Indian market. - added Enrico Carraro - This is a fundamental element for the future growth of our activities at the service of both local and export markets '.

'We must be aware that the global economic context in which we operate today is not at all easy. The growth index is continuously revised downwards. And India, a market that until recently gave us great satisfaction, is now experiencing a particularly difficult situation both in the agriculture and in the construction equipment sector. - concluded Enrico Carraro - But history has taught us that it is precisely in these moments that the foundations for future growth are laid '.

Within the new production area, which will occupy as a whole 5,000 square meters and which is expected to be fully operational in 2021, a line of advanced conception will be installed, primarily dedicated to portal axles for compact tractors with engines up to 75 hp. A product that is already gathering many consents from all the main Indian agricultural machinery manufacturers.

In parallel, this expansion will allow further optimization of internal logistics thanks to new areas to be dedicated to modern structured warehouses. This will lead to an improvement in the level of customer service and to a more timely management of stock levels.

This will only be a piece of a process of further expansion of production areas that will enrich today's portfolio with new products resulting in a 50% increase in local activities in three years.

In the last 20 years Carraro Group invested more than € 101 million in the India plants. Until 2023 expect to invest around € 20 million for operations upgrade and plants expansion.