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MICO exports up by 18 percent despite rising euro
Friday, 05 December 2003, 20:30 IST
BANGALORE: Motor Industries Company Ltd (MICO), the Indian subsidiary of the 35 billion euro Robert Bosch GmbH of Germany, is set to post an 18 percent export growth during the current calendar year.
The increase in exports come in the face of a 15-17 percent appreciation of the euro against the Indian rupee.
MICO managing director Albert Hiernonimus told IANS here Thursday the company would have reached a higher export target if the Euro had not become so strong against the rupee during the last six months.
"MICO accounts for three to four percent of Bosch's global exports and is next only to Japan in Asia. We currently ship more products out of India than from South Korea and China," Hiernonimus said.
"Our exports are not been harmed by the appreciation of the euro. On the contrary, the devaluation of the Indian rupee has reaffirmed our ability to export more than last year when the growth was only 16 percent."
Having become more competitive and cost-effective, Bangalore-based MICO stepped up exports to Bosch's global customers of a range of products, including nozzles, injectors, inland A-pumps and auto electrical components.
In the Indian market too, the company is set to post 20 percent growth by the end of December 31 over the last year, thanks to robust growth in commercial vehicles, automobiles, two-wheelers and a revival in the tractor industry.
"The 30 percent growth by the Indian OEM (original equipment manufacturers) sector during the current year has enabled us to grow higher than in the previous year. It has out-performed even our growth," Hiernonimus said.
"We have given a guidance of 
18 billion sales turnover against 15.5 billion achieved in 2002. Though we have been operating at full capacity, the strong local demand has forced us to scale down our projected export target."
As a result of all-round growth, the company has decided to expand its production capacities at its facilities in Bangalore, Nasik and Jaipur.
"With the government making enforcement of Euro III emission norms in metros and Euro II norms in non-metros for the automotive sector mandatory with effect from April 2005, the potential for our fuel-efficient and clean products is enormous," he asserted.
The capacity at the Jaipur facility, which rolls out 100,000 distributor pumps a year, will be doubled in the next two years to meet the expected growth demand in Indian and export markets.
"We are planning to produce Mio Common Rail Systems for automobiles that will electronically control fuel injection. The system is designed to supply constant fuel pressure to control the injector through a shared fuel reservoir," Hiernonimus said.
Bosch is considering bringing in the latest technologies like the electronic diesel control system to India through MICO, besides engine management and safety aspects such as ABS and air bags.
Marking the milestone of producing 10 million inline fuel injection A-pumps since its inception in 1951, the company has presented the 10 millionth A-pump to Ashok Leyland managing director R. Seshasayee at a function held Thursday.
"The rollout of the 10 millionth A-pump reinforces MICO's commitment to the Indian automotive industry, as diesel powered vehicles are becoming more powerful, clean, economical and less noisy," MICO chairman Hubert Zimmerer said.
The A-type multi-cylinder fuel injection pump is the heart of most diesel-powered vehicles used in India, including trucks, buses and tractors. It is also used in marine and industrial applications.
Robert Bosch board member Bernd Bohr declared the parent company would extend its global service network to make Indian automobile OEMs go global in the years to come.
Source: IANS
18 billion sales turnover against 15.5 billion achieved in 2002. Though we have been operating at full capacity, the strong local demand has forced us to scale down our projected export target."
As a result of all-round growth, the company has decided to expand its production capacities at its facilities in Bangalore, Nasik and Jaipur.
"With the government making enforcement of Euro III emission norms in metros and Euro II norms in non-metros for the automotive sector mandatory with effect from April 2005, the potential for our fuel-efficient and clean products is enormous," he asserted.
The capacity at the Jaipur facility, which rolls out 100,000 distributor pumps a year, will be doubled in the next two years to meet the expected growth demand in Indian and export markets.
"We are planning to produce Mio Common Rail Systems for automobiles that will electronically control fuel injection. The system is designed to supply constant fuel pressure to control the injector through a shared fuel reservoir," Hiernonimus said.
Bosch is considering bringing in the latest technologies like the electronic diesel control system to India through MICO, besides engine management and safety aspects such as ABS and air bags.
Marking the milestone of producing 10 million inline fuel injection A-pumps since its inception in 1951, the company has presented the 10 millionth A-pump to Ashok Leyland managing director R. Seshasayee at a function held Thursday.
"The rollout of the 10 millionth A-pump reinforces MICO's commitment to the Indian automotive industry, as diesel powered vehicles are becoming more powerful, clean, economical and less noisy," MICO chairman Hubert Zimmerer said.
The A-type multi-cylinder fuel injection pump is the heart of most diesel-powered vehicles used in India, including trucks, buses and tractors. It is also used in marine and industrial applications.
Robert Bosch board member Bernd Bohr declared the parent company would extend its global service network to make Indian automobile OEMs go global in the years to come.
Source: IANS