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South America Gears, a new company specialising in the production of gears and hi-tech assembled parts, today started operations following the spin-off of the Carraro Argentina gear companies. 

This facility, occupying an overall area of 12,000 square meters and at which a total of 170 employees work, is expected to achieve a turnover of EUR 14.6 million in 2008. Its main destination markets are tractors, earth-moving machinery and other fast growing sectors, such as power tools and wind turbines.

Buenos Aires (Argentina), 27 March 2008. The opening ceremony of South America Gears, a new company specialising in the production of hi-tech gears and assembled parts for tractors and earth-moving machinery, was held today in Buenos Aires in the presence of the local authorities, the Italian Ambassador to Argentina Stefano Ronca and of Tomaso Carraro, President and CEO of Gear World.This reality, arising from the selling off Carraro Argentina gear companies, is part of Gear World, the industrial project of the Carraro Group set up in 2007 with the aim of providing companies which are globally active in the gears sector to develop independently (SAG in Argentina, SIAP in Italy, Turbo Gears in India, miniGears in Italy, the USA and China).

The new facility, where 170 employees work within an area totalling more than 12,000 square meters, will be dedicated to the production of hi-tech gears and free-moving and assembled components for tractors and earth-moving machinery.

At the end of 2008 South America Gears is forecast to generate a turnover exceeding EUR 14. 6 million with a destination market mainly oriented towards South America (in particular Argentina and Brazil) and North America.

SAG will help increase the profits of the whole Gear World group - comprising a total of 8 production units in Italy, Argentina, India, China and the United States - which posted sales of over EUR 223 million at the end 2007 and plans to close 2008 in excess of EUR 260 million.

Thanks to South America Gears it will complete the product offer of Gear World, which already has a broad scope of application, : from earth-moving machinery to road vehicles, from tractors to wind generators, from electric power tools to gardening tools, from the railway sector to industry.