Flaktwoods, a Swiss industrial air movement major, has embarked on an expansion plan in India, earmarking more investment and introduction of innovative products in the country.

Launching the new generation Centripal HK Fans for the first time in India here Monday, Flaktwoods India managing director Anil Baijal said the company registered a three-fold increase in turnover during the past three years.

"We were reduced to a Rs.200 million company from a Rs.1 billion one after it was divested from its holding company ABB Limited in 2002, but in three years the turnover has risen to Rs.600 million," said Baijal.

"We have targeted another 20 percent growth in 2005."

Flaktwoods Asia's senior vice president Carl Sverdrup said the new product was the result of a high level of innovation, keeping in mind the changing needs of users.