Business Daily from THE HINDU group of publications
Saturday, Aug 30, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Aug 30, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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New Projects Minda setting up plastic unit New Delhi, Aug 29 Automotive switches and batteries maker Minda Industries Ltd (MIL) on Friday announced setting up of a manufacturing facility at Bidadi, Bangalore to produce blow moulding parts at an investment of Rs 25 crore. The facility with an annual capacity of 6 lakh parts has been set up in collaboration with Indonesia-based, $400-million Kyoraku, which has a dominant presence in Japan and Indonesia. MIL would support the requirement of various car makers including Toyota from the new facility. The company said it is targeting a business of Rs 50 crore over the coming years. “Despite the present pessimistic scenario of the auto sector in the country, the future of the sector is very bright and as Indian manufacturers improve quality and embrace technology, the world will soon realise the country’s potential as the next global auto manufacturing hub,” said Mr N.K. Minda, Chairman, Minda Group, in a statement. Kyoraku would provide the latest technology and innovations in the field to make MIL the leader in the segment, commented Mr Takayama from Kyoraku. – Our Bureau More Stories on : New Projects | Automobile Components
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