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Wheels India to close Pantnagar unit, start new facility in Gujarat

Forms JV with Japan's Toby industry to set up the Gujarat plant

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Wheels India To Close Pantnagar Unit

T E Narasimhan  |  Chennai 

Wheels India, a TVS Group company, has decided to close down its operations at Pantnagar, and says the move it is part of ongoing strategic business decision. Meanwhile, the company has formed a JV with Japan-based Topy Industries to set up a plant Gujarat. Considering the ongoing strategic business decision, it is proposed to close down the operation of Pantnagar.

This unit has contributed Rs 198.90 crore, which is 9.10 per cent of the total turnover in 2016-17, said the company. The unit will be closed before the end of 2017-18. Revenues for the second quarter ended September ...

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First Published: Mon, November 06 2017. 18:04 IST
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