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Our Bureau

New Delhi , Feb. 9

THE Japanese air compressor manufacturer, Anest Iwata's joint venture Indian subsidiary, Anest Iwata Motherson Ltd, (AIML), is targeting a sale of around 9,000 units for fiscal 2004-05.

The company is also on the process of developing the Indian manufacturing facility as and export hub for catering to the south Asian and European market.

Anest holds 51 per cent in the joint venture company while the Indian partners, Sumi Motherson group, holds 49 per cent of the equity in the company.

According to Mr V.C. Sehgal, Chairman of the Motherson Group, the joint venture currently has an equity base of Rs 7 crore which will be increased to Rs 12 crore during fiscal 2004-05.

The company currently manufactures reciprocating type compressors in the country while the scroll type compressors are imported from the parent company. With the increase in market share, eventually scroll type compressors too will be manufactured in India, Mr Sehgal said.

More Stories on : Outlook | Air-conditioners & Refrigerators

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