Volvo to develop India as sourcing hub
By agencies   |   Thursday, 13 October 2005, 19:30 IST
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NEW DELHI: Volvo India announced that it would focus on developing India as a sourcing hub for engineering services to support the group's expansion in Asia. Announcing this Volvo India’s Managing Director Eric Leblanc said: “Volvo in India is among the emerging market sources for the group. Last year we achieved around 26 million euros of global sourcing. This year we are expecting a good increase in this number.” The company has established Volvo India as a source for engineering services and this is being done to strategically support the group's expansion in Asia. On export front he said Volvo buses were being exported to Bangladesh and Volvo trucks to South Korea. “Volvo India is responsible for South Asia and we hope to see more activity in these markets too,” he added. Leblanc said that the company would continue to expand at an operating level and there were 100 locations, including sales, service, dealer and warehouse, out of which Volvo India is functioning. At its Hoskote plant the company manufactures about 1,200 trucks and buses in one shift. Leblanc said: “the production levels at our plant can be raised by increasing the number of shifts, if it requires.” On company’s business plan the refused to through more light and said: “The performance across our business is strong and we expect it to continue in the coming days.” Last year the company recorded a turnover of Rs 600 crores and expects the growth to continue.

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