| Hoshiarpur-based GNA Group, manufacturers of automotive components, is planning to invest Rs 120-130 crore for expanding its manufacturing capacity and also upgrade the existing units.
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| The money will be invested in phases over three years. Also, at the same time, the company is exploring the overseas markets.
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| Speaking to Business Standard, Director Gurdeep Singh said: "We will be investing Rs 120-130 crore in expanding our current manufacturing capacity and for the technological upgrade of the existing units."
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| Commenting upon demand in the domestic market, he said: "The automotive sector is growing by leaps and bounds. The same is the case with overseas markets, where the Indian spare parts are cheaper and more durable than those of other countries."
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| The group was growing at 30 per cent annually, and hoped to maintain the same rate, Singh said. It is an original equipment supplier to automobile majors, besides having a strong presence in the replacement market. The group’s clients include Tata Motors, Maruti Udyog, Ashok Leyland, Eicher Motors Ltd, etc. It has three subsidiaries. GNA Axles Ltd, the flagship company of the group, manufacturers rear axles, shafts, spindles, and splined shafts, whereas GNA Duraparts makes gears.
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| Also, the group has a wide distribution network with more than 5,000 dealers covering different sectors of the automotive industry with a diversified product range.
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| Singh further said the group had one of the largest integrated plants of its kind in the sub-continent with a turnover of Rs 295 crore in the last financial year, with a turnover target of Rs 375 crore next year from its three plants, GNA Axles Ltd (Axles Division), GNA DuraParts (Gear Division) and GNA Udyog Ltd (Propeller Shaft Division), spread over nearly 350,000 square metres. The company has manufacturing facilities in Jalandhar and Hoshiarpur.
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| The group has entered the field of education and started the GNA Institute of Management & Technology, focused on design engineering (CAD-CAM), MBA and other media technologies, namely a diploma in multimedia technologies, a PG Diploma in Multimedia Technologies, B.Sc (Multimedia Technologies) & M.Sc (Multimedia Technologies), BBA, and BCA. |
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