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Our Bureau

New Delhi, June 15

Auto components company Avtec Ltd on Thursday said it had clocked revenues worth Rs 570 crore in the second year of its operation. In a statement issued here, the company said that its revenues had increased by 15 per cent year-on-year.

The company also said that it had reached a production capacity of 1,22,000 engines and transmissions. "During the year, new orders were received from two major North American companies for exports to the US in addition to an order from a major Indian OEM," said Mr Sudhir Rao, CEO, Avtec. The company's customer base includes OEMs such as Ashok Leyland, Bharat Earth Movers Ltd (BEML), Caterpillar, Eicher, Ford, General Motors, Hindustan Motors, Mahindra & Mahindra and Tata Motors, among others. It is a part of Rs 5,000 crore GP-CK Birla Group with 30 per cent equity participation from Actis.

More Stories on : Performance | Automobile Components

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