PME awarded EEPC Export Gold Shield by Sitharaman; Journey was tough, says MD
Updated: Sep 04, 2015 05:33:47pm
New Delhi, Sept 4 (KNN) PME Power Solutions, a transformer manufacturing company catering primarily to Power utilities in the country, received the Medium Enterprises Gold Shield Export Award on Thursday from Commerce and Industry Minister Nirmala Sitharaman at an EEPC India event.
On behalf of PME Power Solutions, the award was received by Director, Projects, PME Solutions, Manish Sehgal and his wife.
PME- a consistent performer, has been awarded ‘Star Performer Award’ by the Engineering Exports Promotional Council of India for Fiscal 2007-08, 2008-09, 2009-10, and 2010-11.
In 2011-12 the company was awarded "Top Exporter Gold Trophy for the Year 2011-12 for medium Enterprise from EEPC India for the fifth consecutive year.
The company has also been awarded "Niryat Shree Gold Trophy" for the year 2009-2010 by FIEO and Exporters Excellence Award from ECGC-D&B for Best Focus Market Exporter.
This is not it; the company has won several such awards for its exports excellence.
The Chairman cum Managing Director of PME Power Solutions, Anil Aggarwal, who is Sr. Vice President of industry body FISME, said the journey has certainly not been easy for him.
Speaking about the challenges he came across in his journey as an MSME entrepreneur, Aggarwal said, “It was a very tough journey. Since we are dealing with electricity utilities, the payments are delayed.”
“There was a time when we defaulted in our loan repayment and the company was even declared an NPA in the year 2012,” he said.
Financing is one of the major hurdles for the MSME entrepreneurs for sure. Aggarwal reiterated, “Funding is not available as per the requirement. Although we have the capability to raise our exports by 500 per cent, only because of the financial problems we are not able to do it.”
The proud receiver of the export excellence award said that in the last 10 years he has earned over Rs 1000 crore but there has been no financial support from any government organization.
PME commenced operations in the year 1988 as a transformer manufacturing company catering primarily to Power utilities in the country.
PME Power solutions has a tri-partite agreement with Metglas Inc., U.S.A. and Hitachi Metals India Private Limited for the transfer of technology for manufacturing of Amorphous Metal Distribution Transformers. The company has also undertaken Engineering, Procurement and Construction ("EPC") projects relating to construction of substations for transmission and distribution of electric power and erection and commissioning of transmission and distribution lines.
The company has over 25 years of experience in catering to various products/services & projects to various countries which includes Zimbabwe, Zambia, Mauritius, Dubai, Iraq, Kenya, Sri Lanka, Mozambique, Ghana, Nigeria, Republic of South Africa, , Abu Dhabi, Nepal, Cambodia, Oman, Democratic Republic of Congo etc. and has established a strong foot-hold in African Market besides various Power utilities and Private players in India.
The Ministry of Commerce and Industry, Government of India has even accredited PME a "Trading House". (KNN Bureau)
On behalf of PME Power Solutions, the award was received by Director, Projects, PME Solutions, Manish Sehgal and his wife.
PME- a consistent performer, has been awarded ‘Star Performer Award’ by the Engineering Exports Promotional Council of India for Fiscal 2007-08, 2008-09, 2009-10, and 2010-11.
In 2011-12 the company was awarded "Top Exporter Gold Trophy for the Year 2011-12 for medium Enterprise from EEPC India for the fifth consecutive year.
The company has also been awarded "Niryat Shree Gold Trophy" for the year 2009-2010 by FIEO and Exporters Excellence Award from ECGC-D&B for Best Focus Market Exporter.
This is not it; the company has won several such awards for its exports excellence.
The Chairman cum Managing Director of PME Power Solutions, Anil Aggarwal, who is Sr. Vice President of industry body FISME, said the journey has certainly not been easy for him.
Speaking about the challenges he came across in his journey as an MSME entrepreneur, Aggarwal said, “It was a very tough journey. Since we are dealing with electricity utilities, the payments are delayed.”
“There was a time when we defaulted in our loan repayment and the company was even declared an NPA in the year 2012,” he said.
Financing is one of the major hurdles for the MSME entrepreneurs for sure. Aggarwal reiterated, “Funding is not available as per the requirement. Although we have the capability to raise our exports by 500 per cent, only because of the financial problems we are not able to do it.”
The proud receiver of the export excellence award said that in the last 10 years he has earned over Rs 1000 crore but there has been no financial support from any government organization.
PME commenced operations in the year 1988 as a transformer manufacturing company catering primarily to Power utilities in the country.
PME Power solutions has a tri-partite agreement with Metglas Inc., U.S.A. and Hitachi Metals India Private Limited for the transfer of technology for manufacturing of Amorphous Metal Distribution Transformers. The company has also undertaken Engineering, Procurement and Construction ("EPC") projects relating to construction of substations for transmission and distribution of electric power and erection and commissioning of transmission and distribution lines.
The company has over 25 years of experience in catering to various products/services & projects to various countries which includes Zimbabwe, Zambia, Mauritius, Dubai, Iraq, Kenya, Sri Lanka, Mozambique, Ghana, Nigeria, Republic of South Africa, , Abu Dhabi, Nepal, Cambodia, Oman, Democratic Republic of Congo etc. and has established a strong foot-hold in African Market besides various Power utilities and Private players in India.
The Ministry of Commerce and Industry, Government of India has even accredited PME a "Trading House". (KNN Bureau)
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