MILAN, Aug. 2 (Class Editori) — Fiori Group, a company from Modena that specializes in construction machinery production, has established a plant in the Indian market, joining over a hundred other companies in consolidating their presence in the Asian market.
Fiori Concrete Machines India Pvt. Ltd. was established in Chennai, located in the south of the country, in July, helping the Finale Emilia-based company that specializes in the production of all-terrain vehicles for concrete production and dump trucks for construction to strengthen its position in a rapidly growing market like India, confirming its international outlook.
In 2018, the company took the first step towards addressing the subcontinent's market though a joint venture with AJAX, its business partner. Fiori has now established a direct presence which will guarantee a consistent presence in India. The new company will be responsible for producing self-loading mixers locally, establishing itself as a crucial point for the Group’s activities in the subcontinent.
India's current economic status, with an annual GDP growth rate of 6%, was the main key factor in the decision to establish the business. "Today, India is one of the most promising markets worldwide, with future projections indicating it can leverage the deceleration of China’s economy, representing a forward-looking alternative," Mauro Pelliciari, CEO of Fiori Group, explained. For the realization of this project, Fiori Group has sought the consulting services of Octagona, a company based in Carpi (Modena) that has been supporting Italian companies’ international growth since 2002.
Exploiting their experience in the Indian market and their three direct offices in New Delhi, Bangalore, and Pune, Octagona managed and coordinated the entire incorporation process, which included preparing the necessary contracts and fulfilling the administrative obligations required by Indian regulations. Furthermore, to ensure that Fiori Group is fully operational in the market, Octagona continues to assist the company even in its post-incorporation phases by providing specific operational and legal support.
"India is a crucial market for our Group. We aim to provide better proximity and support to our local clients through this operation," Pelliciari added. "The collaboration with Fiori has produced excellent results," Alessandro Fichera, CEO of Octagona, said. "We are delighted to have backed a significant endeavor with an innovative and well-defined business model. The company has effectively captured the Indian market opportunity, which offers huge prospects for Italian businesses across various sector," he concluded.
Fiori Group, with sales of just under 25 million euros, designs and manufactures all-terrain vehicles for concrete production and dump trucks for the construction industry. The company's range of products is stressed by the Group's ability to find optimal solutions for clients to manufacture and transport concrete directly on-site, lowering energy consumption and minimizing the environmental footprint. Fiori Group offers a variety of products and applications, specifically designed for construction purposes, such as piling, foundation, concrete structures, building, urbanization, rail, road, bridge, canalization, irrigation, tunnel construction, mining and concrete supply.
(Source:Class Editori)
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