Munjal Showa, a member of Hero group was established in 1987 in technical and financial collaboration with Showa Corporation of Japan. The Collabarator has a 26% Equity participation in the Company. The company is a pioneering global leaders in the Manufacture of Shock Absorbers. The company's product conform to the highest standard of quality, safety, comfort and are QS 9000, ISO 14001 and ISO-9001 compliant. Munjal Showa Limited in its joint venture with Showa Corporation, designs and manufacturers shock absorbers and struts for leading two-wheelers and four-wheelers. The Munjal Showa manufacturing plant is spread over an area of 24075 sq mt in the industrial area of Gurgaon, Haryana, on the outskirts of the National Capital Territory of Delhi, India. Munjal Showa is also one of the largest suppliers of shock absorbers to major auto giants in India, Japan, Germany, the united States and the united kingdom. The Company has established a strong base in auto ancillary manufacturing market and the products serve as a original equipment to a wide range of Maruti Suzuki upper end cars and export models, Honda City car, complete range of Hero Honda Motorcycles, Kawasaki Bajaj Motorcycles, Kinetic Scooters and Hero range of mini-motorcycles and mopeds and Honda Motorcycles and Scooters India (Pvt) Limited In 1996-97, the company developed Front and Rear Dampers for Hero Honda Motor Bikes and developed struts for Honda Siel Cars. In 1998-99 the company issued bonus shares in the ratio of 1:1. In an open offer Enam Securities acquired 90,000 shares in the company which has taken the companies holding to 7% from 6%. The company developed new model struts and window balancers for the Alto model and for model C and Esteem diesel for Maruti udyog ltd. The company developed Front Fork and Rear Cushion for new models of Hero Honda such as Joy, Dawn, Passion during 2001-2002 and for Model Activa of Hero scooters.Honda Siel Cars India Ltd also released drawings of struts for their new car during this period. During this financial year capacity of Shock absorbers, Struts and window balancer stood at 7272000 Nos, 805200 Nos, 1006500 Nos. The company developed Front Fork and Rear Cushion for Ambition Model of Hero Honda Ltd during the period 2003-2004. It also developed and delivered Gas Charged Front and Rear Struts for Honda Siels Car during the same period. The capacity of shock absorbers and struts were also expanded by 2052515 Nos and 163800 Nos respectively. The company developed successfully Front Strut for Wagon R with Automatic Breaking System of Maruti Udyog Ltd during 2003-2004. The company developed Front Fork for a new bike of Hero Honda Limited and also developed Front Fork and Rear Cushion for Honda Motor Cycle and Scooters India Pvt Ltd during this period. Shock absorbers capacity stood at 10485600 Nos during this period. During 2004-2005, the company successfully developed Front Fork and Rear Cushion for Super Splendor and CDN-II models of Hero Honda Motors Ltd. Hi-tech Front Fork and Rear Cushion for Honda Motorcycle and Scooters India private ltd's Unicorn were also developed. New plant at Manesar Gurgaon came in to operation in April 2005. The company has planned a capital expenditure of Rs.40 crores in 2005-06 in its two plants situated at Gurgaon. During 2005-2006, the company successfully developed Front Fork and Rear cushion for 'Glamour' and 'Achiever' in Motorcycle segment and for 'Pleasure' in Scooter Segment for Hero Honda Motors Ltd. The company also developed hi-tech front fork and rear cushion for 'Shine' Model of Honda Motorcycle and Scooters India Pvt Ltd. The production capacity of Shock absorbers expanded from 12905300 Nos to 15600000 Nos, and the capacity of Struts and window balancer stood at 969000 Nos and 1006500 Nos respectively.