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India Pistons to invest $50 Mn in three years for expansion
By siliconindia
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Wednesday, 19 December 2007, 17:21 IST
Chennai: India Pistons, an auto component manufacturer and German based Mahle GmbH, is drawing up an expansion program involving an outlay of about $50 million (
200 crore) over the next 2-3 years.
The investment capital 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 venture with Mahle GmbH helps in emerging as a technologically advanced manufacturer in the automotive industry and provide specialized applications in the areas like defense, construction, railways, marine applications, tractors and off-highway segments, besides doubling its annual exports.
India Pistons, supplies pistons and piston parts to passenger cars, commercial vehicles and three-wheeler categories in the automotive sector, besides the off-highway vehicles segment.
($1 = Rs 40)
200 crore) over the next 2-3 years.
The investment capital 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 venture with Mahle GmbH helps in emerging as a technologically advanced manufacturer in the automotive industry and provide specialized applications in the areas like defense, construction, railways, marine applications, tractors and off-highway segments, besides doubling its annual exports.
India Pistons, supplies pistons and piston parts to passenger cars, commercial vehicles and three-wheeler categories in the automotive sector, besides the off-highway vehicles segment.
($1 = Rs 40)