ARaymond extends footprint in India

Company invests Rs 78 crore for facility which will focus on automotive and white goods sectors

French fastenings and  assembly systems maker ARaymond has set up a manufacturing facility and a R&D centre in India to focus the Indian market and supply to its overseas markets.

The company has invested Rs 78 crore for this facility.  

The new facility will focus on automotive and white goods sectors. Company's 90 per cent of its revenues came from automotive sector while the remaining 10 per cent from health, pharmaceuticals, solar and life.

Commenting on the development, Antoine Raymond, chief executive,  ARaymond Network said, " ARaymond’s presence here is of utmost importance not only for our collaboration and synergies with our subsidiaries in other countries, but also to go with our customers, and develop value with and for them. There are critical components will primarily cater to the passenger car and utility car segment for the Indian and global OEMs in the country. On an average a car has more than 100 ARaymond fasteners fitted in."

He added, " With help of investment on this new building ARaymond India will be able to increase our local content, from current 35 per cent  to 50 per cent  by 2015. Apart from being leader in automotive market in line with our global strategy, we will also align our efforts in Industrial and Solar market, where we see lot of opportunity to help on assembly technology. We expect to grow 25 to 30 per cent  for next three years and plan to cross 100 crore mark by 2015."

At present, all major domestic and global OEMs such as Tata Motors, Volkswagen, Maruti Suzuki, Mahindra and Mahindra, Ford, Volvo, Mercedes-Benz, and Bajaj Auto are its customers.