Pennar Industries Ltd., a multi-product, multi-location engineering organization, has launched its new range of hydraulic cylinders. A 
leading engineering company with diverse product offerings like auto components, solar structures, railway wagons & coaches, precision tubes, white goods and several others, Pennar’s products find application in diverse segments such as automobiles, railways, building & construction, pollution control, infrastructure, road safety systems and general engineering.
In October, Pennar acquired the assets of Wayne-Burt Petro Chemicals Pvt. Ltd., earlier known as Bailey Hydropower Pvt. Ltd., a hydraulics cylinder manufacturing company in Chennai with strong global presence.
Expressing his views on the acquisition, Mr. Suhas Baxi, President & CEO, Pennar, said: “This deal is a step towards creating a more diversified product and solutions portfolio. The Indian market of hydraulic systems caters to domestic as well as global supply chain for construction and mining equipment, aerospace, defence and agricultural equipment. Bailey Hydro products already have a market in North America which allows Pennar to have a footprint in the global market. We intend to invest in technology, manufacturing and market development to emerge as one of the top three players in the hydraulic systems business in India.”
The acquisition gives Pennar access to Bailey’s production facility in Chennai which has a capacity to produce 2,25,000 cylinders annually. Bailey’s globally trained technical team, strong design and engineering capabilities and experience of catering to the supply chain in North America and India provide a solid foundation for Pennar’s plans.
The hydraulic equipment market in India, currently estimated at Rs. 2,900 crores, is expected to grow to Rs. 4,000 crores over the next five years. Mr. Aditya Rao, Vice Chairman, Pennar, said this would give an opportunity for the company to have its presence across the value chain of hydraulic equipment, starting with engineering services, going all the way to system integration.
Pennar showcased its hydraulics products for the first time at EXCON this year. Talking to MOTORINDIA, Mr. Shiva Kumar. K, Vice President – Industrial Components SBU, Pennar, said: “There is no better platform than EXCON to launch our new hydraulics products. These will be the first finished products from Pennar and it will help us reach directly to the vehicle manufacturers. We will start with the construction equipment segment because the volumes are very high, and are also looking at other potential areas like material handling and waste management systems. We are looking at a global platform from day one and are keen on developing a strong customer base soon.”
Pennar is already a Tier-I supplier to BEML and is looking at having a significantly wider customer base by Q2 FY15.