India Pistons to invest Rs 200 cr in three years for expansion
G Balachandar |
Last Updated at February 5, 2013 02:51 IST
|Following the announcement of its 50:50 joint venture with the Germany-based Mahle GmbH, auto component manufacturer India Pistons is drawing up an expansion programme involving an outlay of about Rs 200 crore over the next 2-3 years.
|The investment corpus will be equally split between India Pistons' operations and the joint venture operations, N Venkataramani, managing director, India Pistons told Business Standard.
|The expansion envisages India Pistons and its JV emerging as a technologically-advanced manufacturer in the automotive industry and catering to specialised applications in defence, construction, railways, marine applications, tractors and off-highway segments, besides doubling its annual exports.
|India Pistons, a key member of the Rs 5,200-crore Chennai-based Amalgamations Group, supplies pistons and piston parts to passenger cars, commercial vehicles and three-wheeler categories in the automotive sector, besides the off-highway vehicles segment. |
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First Published: Tue, December 18 2007. 00:00 IST