ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Thursday, January 16, 1997 TAG: 9701160030
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
SOURCE: JEFF STURGEON STAFF WRITER
A ROANOKE FIRM that distributes transformers plans to expand its line by selling juice boxes made in India.
Virginia Transformer Corp. of Roanoke said Wednesday it has an agreement to distribute an Indian company's transformers in the Americas.
The partner is Crompton Greaves Ltd. of Mumbai, formerly Bombay, the second-largest transformer maker in India.
Virginia Transformer's president, Prabhat Jain, said the deal expands the line of transformers his company can offer. Crompton's units run the gamut from small units to those up to 17 times as large as any Virginia Transformer now sells. The lack until now of a complete size range has cost Virginia Transformer business, Jain said.
Jain said he scheduled a Jan.31 agreement-signing ceremony at Hotel Roanoke, to be attended by Ranjan Dasgupta, president of the Crompton Greaves power systems group.
"It is an international alliance we are creating, and we certainly want to recognize our partners," Jain said.
Jain said negotiations leading to the deal began with his overture to Crompton Greaves in 1994. He said the partnership will enable his company to resell $3 million to $5 million worth of Crompton Greaves equipment annually by 1998 or 1999. Crompton Greaves currently is not doing business in the Americas.
Virginia Transformer predicts it will sell $35 million worth of transformers, voltage regulators and related power equipment this year, Jain said. Its products are used in the utility, steel and auto industries; by mass transit operators; and in commercial buildings, hotels and airports.
Virginia Transformer expects to hire more service, customer support and contract administration employees to handle the new business, but Jain said he did not know how many. Employment is at 215, and the company has filled 43 of 50 new jobs it announced late last year.
LENGTH: Short : 44 lines KEYWORDS: JOBCHEKby CNB