DECEMBER 20239TOP STORIESRSP TO ESTABLISH NEW FACILITY IN INDIARobot System Products (RSP), a subsidiary of ABB and a top player in industrial robot accessories has announced its plans to establish a new branch in India. This move is aimed at taking advantage of the promising opportunities in India's robotics and industrial automation industry.RSP is aiming to strengthen its position as a key player in robotics and automation by increasing its presence in the growing Indian market. The industrial robots and automation market in India is forecasted to experience a growth of over 14 percent, reaching a value of $25 billion by 2025. This growth can be attributed to the rising adoption of Industry 4.0 technologies, particularly in industries such as automotive, packaging, metal, and others. Additionally, the demand for industrial robots is driven by the shortage of skilled labor and the evolving production landscape, which demands greater efficiency and competitiveness."We have been watching the developments in India and believe that now is a great time for RSP to enter. With almost 5500 robots installed in 2022 in Indian manufacturing facilities, the growth of robotics in Indian industry is very encouraging," says Eddie Eriksson, President and CEO of Robot System Products AB."Indian Industry is set to ramp up productivity in automotive electric vehicle programs, electronics, and several other manufacturing applications. With India's ambitious goal to be a manufacturing hub for the world and capitalize on the "Make in India" policy, RSP is well positioned to provide the local industry the reliable, quality, and flexible manufacturing solutions to automate and to achieve their goals," Arvind Vasu, Managing Director for RSP's subsidiary company in India said. RMZ GROUP ALTERS GOVERNANCE STRUCTURE VIA LEADERSHIP CHANGESIn order to rank among the top family-owned alternative asset companies, RMZ Corporation has restructured its top leadership team and established a new governance structure. The changes are part of an effort to double the Bengaluru-based company's rent-yielding real estate business to $42 billion by 2029, with a total investment of around $16 billion.The firm has established a new governance structure that includes two boards: a supervisory board led by brothers Raj and Manoj Menda, as well as the family's second generation, Sidharth and Mihir, and an executive board comprised of non-family senior leaders from diverse industry backgrounds who oversee each of the firm's businesses.According to the Menda brothers, the strategic shift demonstrates the family's unwavering commitment to growth and expansion in alternative investment classes. "We are intensely focused on investing in high-growth opportunities across geographies that will lay the groundwork for a long-term global economy." "RMZ Corporation is positioned to become one of the world's largest family-owned alternate asset owners in the next five years with the assistance of our second generation, Sidharth and Mihir," they said in a statement.Arshdeep Sethi has been renamed president of RMZ Real Estate and CEO of the company's various asset classes, Thirumal Govindraj as CEO of RMZ Office, Avnish Singh as CEO of RMZ Mixed Use, Saandip Kundu as CEO of RMZ Living, and Avinash Sule as CEO of RMZ Industrial & Logistics and RMZ Hospitality. The CEOs will serve on the boards of all investment platforms as members of the leadership team.
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