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Neha Kaushik

New Delhi , Oct. 17

IN a bid to give a boost to exports, the auto components company, Minda Huf, a leading player in the field of automotive security systems, is in the process of establishing a marketing and engineering set-up in West Europe.

"We are initially starting a logistics centre in Europe, most likely in France or Germany. This would subsequently be converted into a marketing and engineering set-up. We are the OEM suppliers for various automobile companies in the region, particularly the two-wheeler firms," Mr Manoj K. Jha, Head - Exports, Minda Huf, said.

Minda Huf, together with Minda Industries, was planning to set up an assembling unit for its products in Indonesia next year.

The assembly unit in Indonesia would make products such as locks, wiring harnesses, switches and so on and will primarily cater to automotive firms in Thailand, Malaysia and Indonesia. "We have been supplying to almost every two-wheeler company in the region, including Yamaha, Suzuki and Honda. The unit will allow us to service our clients on a daily basis," Mr Jha said. The company would also save on duties after commencing assembly of its products in the region. A bulk of Minda Huf's exports is to Europe and the ASEAN region.

Minda Huf, which is an alliance between the Ashok Minda Group and Germany-based Huf, is eyeing a turnover of more than Rs 100 crore this year. "We have been growing at a healthy pace, with an annual growth of about 48 per cent. We expect to maintain this pace of growth," Mr Jha said. Currently, 18-20 per cent of the company's sales are coming from exports.

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