Anticipating higher demand for its products, automotive supplier firm Cooper Standard today inaugurated a manufacturing facility at Bawal in Haryana with investment of around $7 Million.
The company has also planned to set up a state-of-the-art Technical Center at Manesar, Haryana where it will work for various Cooper Standard units in America and Europe to develop part designs.
Commenting on the development, Cooper Standard Chairman & CEO Jeff Edwards said: "The Indian automotive industry is robust and we foresee higher demand for our products. By laying the foundation for another facility, we are expanding our capacity to tap this increased demand,"
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"Our growing presence in the region will support our customers based in India while boosting our market share," he added.
The facility in Haryana will initially manufacture rubber sealing and trims for Volkswagen models - Polo and Vento in India.
Cooper Standard has six plants operational in India and has laid foundation for a new plant in Gujrat recently.
The total estimated market for sealing and trim in India is estimated to reach $180 million and fuel and brake delivery market is estimated to be worth $125 million, Cooper Standard said in a statement.
