Memorandum of Understanding with Indian group Roots
At the Hannover Trade Fair 2015 – the world’s most important industrial exhibition with the motto “Get new technology first” which was held held from 13th to 17th of April – Neander Motors AG (mother of Neander Shark GmbH) represented by its Chairman of the Board of Management, Lutz W. Lester, signed a Memorandum of Understanding with the Indian company Roots, represented by its Executive Chairman & Managing Director K. Ramasamy on 14th of April.
The Indian group Roots, currently the eleventh largest manufacturer of horns and other products like castings and industrial cleaning machines, intends to purchase the Neander twin crank technology for various applications exclusively for the Indian market.
Roots was convinced by the substantial technological advantage of the patented Neander technology. Thus they see a high potential for its adaption for further applications, e.g. generators for two-, three- and four wheeler vehicles in the fields of goods or passenger transportation.
With an annually economic growth of ten percent in average in the last ten years and a current growth of annually five percent India is one world’s fastest growing economies.
Due to the still growing Indian economy and the longstanding good relations between German and Indian companies India advanced – as it already did in 2006 – to the partner country for the Hannover Fair 2015. Thus the visit of the exhibition offered a suitable platform for the MOU’s signature.
For Neander this partnership means the establishment of its novel engine technology for low and medium power range in the growth market India which requires properties like lower operating costs, low consumption, low emissions and more environmental protection. All these requirements are easily fulfilled by Neander’s twin crank technology.