Rockman to set up plant in Uttarakhand

Rockman Industries, a company of the Hero Honda group, is set to expand with an additional investment of over Rs 100 crore for setting up its second state-of-the-art auto component plant in Uttarakhand to meet the swelling demand in the market.

Ground work for installing the manufacturing unit for auto components has already been completed and it is expected the plant will be fully operational by the end of next calendar year, said Rockman Industries Managing Director Suman Munjal said here.

The proposal for the plant, at which non-ferrous castings and other auto parts would be manufactured and funded through a mixture of internal financial sources and debt, she said.

The company's second plant would cater to both domestic and international markets, including the US and Europe, Munjal added.

"Although our exports are negligible at present, we are exploring new export markets including Europe and the US, which will consolidate our footprint in global markets for auto parts," she said.