Murugappa's Tube Investments plans to set up truck body building plants

TMT bars & Truck Body Building businesses are more like venture capital investments at the incubatory stage, says management

Tube Investments of India, the flagship company of the Murugappa Group, plans to set up plants to build truck body parts, aiming to shift from the outsourced model with its own manufacturing.

The company believes in a business battling weak vendors, a depressed market and the goods and services tax (GST) it can do better with manufacturing facilities in Chennai, Bawal, Chakkan and Kolkata.

Vellayan Subbiah, managing director of Tube Investments, said truck bodybuilding and TMT steel bars were like venture capital investments that need time to grow. They will "not have any significant impact either on our top line or bottom