Financial Daily from THE HINDU group of publications
Wednesday, Nov 17, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 17, 2004 |
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Corporate
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Alliances & Joint Ventures Maini Precision in pact with UK firm to make auto chargers Our Bureau
Bangalore , Nov. 16 MAINI Precision Products Pvt Ltd, a privately owned Maini Group company, is entering a 30:70 joint venture with the UK-based Hampson Industries PLC to set up a 100 per cent export-oriented unit in Bangalore to make high precision parts for the automotive market. The joint venture will operate from a ten-acre facility in Bangalore and expects to commence production activities in late 2005, according to Mr Gautam Maini, Managing Director. The facility will have an initial planned production phase of 50,000 sq ft and the joint venture is expected to cross sales of £10 million in the first five years of operation, according to Mr Maini. The facility will meet the requirements of Hampson's automotive customer base and will cater to the automotive charger applications. The market for automotive turbo chargers, which are fitted primarily to diesel engines in heavy and light commercial vehicles is growing as a result of tightening fuel emissions regulations in the European and American markets, according to the company. The company employs 600 people across four manufacturing locations n Bangalore.
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