Mr. Ravi Ivaturi, Managing Director, PRA India Private Ltd., says: “The purpose of setting up an office in India is to provide a platform for unique western companies entering the Indian market and also fostering growth for medium and small Indian companies to source material as well as export components to other emerging markets like China and Brazil”.
Globally PRA is also actively involved in mid-size company mergers and acquisitions. It deals with niche clients manufacturing unique high technology products which are hard to duplicate in emerging markets. The first client PRA worked with in the Indian market is the US-based Wolverine Advanced Material (WAM), an automotive supplier manufacturing specialty rubber-coated steel which is typically used in engine gaskets, brake shims and noise vibration and harshness (NVH) applications.
WAM is a leading developer of high-performance, custom-engineered sealing solutions and polymer-coated materials for gasket manufacturers around the globe. The company’s extensive experience with sealing materials and applications helps it not to identify the problem faster but also to help you choose the right material for the job. From a non-stop stream of innovative new materials to engineering custom materials for specific customer applications, Wolverine’s engineering and manufacturing teams are constantly looking for new ways to solve your toughest sealing challenges.
Wolverine’s innovative materials combine high performance polymers with metal substrates, and are used in an extensive range of sealing applications, including: engines, transmissions, hydraulics and refrigeration compressors for automotive and industrial manufacturers.
On the gaskets side, Wolverine is working with most of the Indian gasket manufacturers. Wolverine is also supplying brake shims to local manufacturers of brake friction, and for the NVH application the company is providing damping solutions to select OEMs and engine manufacturers. In the very first year of operation, Wolverine, supported by PRA, will effectively double the sales in the region.
Much of the growth is expected to come from damping solutions for NVH applications. Currently NVH is a hot subject in the Indian automotive industry, and Wolverine is working with almost all the OEMs in providing damping solutions, particularly on engine applications. Wolverine products result in significant cost saving for manufacturers.
Wolverine sees a much bigger opportunity with the entry of global OEMs in the Indian market. Today all Wolverine products are imported from the US. But in the future the company plans to stock and distribute master / slit coils in India and in the long run may well set up a coating line or a small manufacturing facility for its products. PRA is building a team of Wolverine technical and sales professionals to work with the OEMs in India, adds Mr. Ivaturi.
PRA adopts a 4-fold approach in incubating its clients business in emerging markets. To start with, it does market research for the clients to identify if there is a market in the country for their products. In the next stage, it starts talking to target customers and even initiates supplies to a few customers. Once approved it gets into full-fledged supplies where it goes all out to sell the products in the market. After establishing its business it can transfer it to the client or continue handling it.
PRA has had a lot of success in China. Commencing operations in the early 1990’s in Taiwan it opened its China operations in 2001. In fact PRA has already established business for Wolverine Advanced Materials in China and has set up a stamping facility which is being managed by it, says Mr. Ivaturi.
