Inteva Product LLC to invest $10 mn in Indian market

To set up a new 100,000 sq. ft plant at Pune

Bangalore headquartered Inteva Product LLC. Which recently acquired ArvinMeritor Body Systems, one of the leading Auto component makers globally, recently announced their plans to invest $10 million which includes setting up a new 100,000 sq ft plan in Pune. With the recent acquisition of ArvinMeritor Body Systems, Inteva Product LLC has become one global company with a strong employee base of approximately 8000 employees across 43 locations with revenue of $2.2 billion.

Speaking on the occasion, Mr. Varun Vijay Rao, Managing Director, India, shared, “With this acquisition, our business has grown over 50% from the previous year and we expect a similar trend for the next 2 years at least.  India is among the fastest growing markets for us and we recently won business with one of the largest domestic car manufacturers.”

Added Mr. Vijay Rao, “Our vision is to achieve $4 billion in sales by year 2016. We have a strong future in every region, especially in India and China. Based on advanced products and process, we offer our customers value-based innovation and environmentally-friendly products that enhance the quality and performance of our customer’s vehicles.”

Shared Mr. Rao, “In India, we have a strong position in the closure systems market and are in the process of expanding our presence in interior systems and Motors & Electronics. The added product portfolio and knowledge base will fuel our growth in India with expected double-digit revenue growth.”