The Hindu Business Line : Ranvik set to open Rs 12-cr unit in Pune

The Pune-based Ranvik Engineers, automobile components and sub-assembly manufacturing company, is all set to inaugurate its second facility at Bhosari in Pune on Tuesday. Its first facility is in Ranjangaon under the name of Fairfield Pressings Pvt Ltd.

Talking to presspersons, Mr Vikram Jagtap, Partner, Ranvik Engineers, said an investment of Rs 12 crore is being utilised for the setting up of this facility and would be manufacturing chassis frames. He said the capacity of the plant is 300 chassis per day and is being produced for Tata Motors.

With increase in requirements, it could go up to 500 chassis per day, Mr Jagtap said. He noted that by mid-August, the plant would be fully complete and would begin supplies of 407 frame assemblies. He said till July-end it has supplied about 1,500 assemblies from its Ranjangaon plant and also plans to introduce cathode electro deposit (CED) pre-coat system.

Expansion plans

Mr Jagtap said the new location has been bought over from Lubricare, which is under the management of Mr Madhav Kirloskar. Lubricare supplies water and oil pumps for Tavera and Suzuki. He added that as part of its expansion plans, it is also setting up its third facility in Pimpri as a sheet metal press shop.

The fourth facility, he said would be in the city, equipped with imported large bed press shop, advanced robotic welding and automated assembly facility. This facility is expected to be operational within six months at an investment of Rs 10 crore.

Revenue target

Mr Jagtap said the company for the year ended March 2007 had recorded a revenue of Rs 15 crore and for the current year is targeting Rs 50 crore. He said the company is targeting Rs 150 crore by 2010. Looking at exports, Mr Ranjit Jagtap, another partner, said it is also under the process of technology tie up with a US company for special large bed components and automobile door hinges manufacturing.

The equity participation informing the joint company is under discussion, he said. He noted that talks are on with a Denmark company for the steering column.

It is also in talks with the Italy-based Same Tractors, he added.

The Group, founded by Mr V.M. Jagtap, manufactures press sheet metal components and has been into this line of business since 1975. Its clients include Tata, LG Electronics, Whirlpool of India Ltd, Piaggio Vehicles Ltd, Fiat India Ltd and so on.

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