Bharat Fritz Werner, a Bangalore-based machine tool manufacturing company, is planning to set up marketing subsidiary in Germany.
The Rs 200-crore company plans to invest Rs 15 crore in the first phase to set up an office and showrooms to undertake direct marketing of its machines.
BFW, which becomes the first company in its category to go overseas, will largely concentrate on manufacturing critical components for aeronautics and will focus on serving international requirements with greater efficiency.
"We look forward to establishing firm bonds with industries in developed nations and Germany presents itself as an ideal location," BFW president and CEO SN Mishra said.
Presently, the company serves customers through dealers in China, France, Italy, Turkey and Singapore.