The Finland-based AC drives manufacturer Vacon (VAZ.BE)
strengthens its global presence by opening a subsidiary in Chennai
on the southeast coast of India. The grand office opening will be celebrated on January 24, 2007 with invitees representing the company, customers and cooperation partners. With a subsidiary in one of India's largest commercial and industrial centers, Vacon will further improve its service in the growing markets of the Asia-Pacific region.
Vacon operates on its own or through partners in 100 countries. Taking more foothold in India follows
closely Vacon's strategy of increasing its global presence. Despite its large annual energy production, India is a net energy importer. Overall, India's need for power is growing at a prodigious rate. Annual electricity generation and consumption have increased enormously in the past decade, and its projected rate of increase for electricity consumption is one of the highest in the world.