The Hindu Business Line : Holset Engg sets up office in Pune

Holset is targeting a global turnover of about $500 million for the current year and is forecasting a growth ranging between 10 per cent and 40 per cent.

Pune , Oct. 24

THE UK-based Holset Engineering Company Ltd, which has had its presence in the domestic market for a decade, has set up its office here.

The Pune office would provide support to its global entities in the areas of marketing, financial analysis, material flow and logistics, warranty and reliable analysis and support for programme management to facilitate new product introductions.

Mr Paul C. Ibbotson, Managing Director, told presspersons that this was not a new venture, as the company has an established joint venture with the Tata Group, Tata Holset Ltd (THL) since 1994. THL located in Dewas, Madhya Pradesh, manufactures turbochargers and supplies to the domestic and export market.

Mr Ibbotson said the Pune operations would complement the existing Dewas facility providing support not only to the domestic market but also to Holset entities across the globe.

The other Holset facilities are located in Brazil, China, the UK, the US and the Netherlands.

Tata Holset currently produces about two lakh units and had recently expanded its facility to touch four-lakh units within the next couple of years.

It exports about 20 per cent of its production to the US and European markets. Mr Paul said the company was also looking to increase its headcount both in Dewas and Pune.

Holset is targeting a global turnover of about $500 million for the current year and is forecasting a growth ranging between 10 per cent and 40 per cent. As far as Indian operations are concerned, it is targeting a growth of 10 per cent.

The Indian operations have recorded a turnover of Rs 120 crore for the fiscal ended March 2005.

Asked whether Holset, which has its dominance in the middle and heavy commercial vehicle segment, would now target the light commercial vehicles, Mr Paul said it was reviewing this while pointing out that there is a good demand from this segment also.

The company currently has an alliance with Mitsubishi for this and is currently importing the requirements.

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