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Rico Auto to hire up to 500 workers for 3 new plants

The company is investing Rs 50 crore as capex for this fiscal in these three plants

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Auto components maker Industries today said it will hire up to 500 workers for its three upcoming plants.

"We are setting up three new plants, two in Bawal and one in Chennai. There will be new hiring of 400-500 people for these plants," Rico Auto Industries Managing Director Arvind Kapur told PTI.

Speaking on the sidelines of the annual convention of Automotive Component Manufacturers Association of India (ACMA), he said the first plant would be operational by March next year and the second one would follow two months after that.

"The Chennai plant will also be operationalised within the next year. We are investing Rs 50 crore as capex for this fiscal in these three plants," he added.

Currently, Rico Auto employs around 7,000 people for the entire groups, out of which 50-60% are permanent workers. It has over 15 plants across different locations in the country.

Commenting on sales growth, he said the company is looking at 12-15% growth this fiscal. Last fiscal the group had a revenue of Rs 2,200 crore.

When asked if the company is considering acquisitions he sais it is keeping options open.

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