Business Daily from THE HINDU group of publications
Tuesday, Feb 12, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Feb 12, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Outlook Modine Thermal seeks tie-up for engine-cooling systems
T. Murrali Chennai, Feb. 11 Chennai-based Modine Thermal Systems Pvt Ltd (MPL) is looking for either acquisitions or joint venture partners to get into the manufacture of engine-cooling systems. The company was set up in India as a 100-per cent subsidiary of US-based, $1.6-billion Modine Manufacturing Company (MMC), to make powertrain cooling systems to support the requirements of domestic commercial vehicle and off-highway vehicle manufacturers. InvestmentSpeaking to Business Line, the regional Vice President-Asia of Modine Manufacturing Company, Mr Thomas F. Marry, said MPL would also make engine-cooling systems till it identified joint venture partners or acquisition possibilities, which called for revised investment plans, he said. The company would enhance the investment by 15 per cent to the originally earmarked amount of $40 million, he said. The powertrain cooling systems include radiator and charge air cooler modules while the engine cooling systems include oil coolers, fuel coolers and EGR (exhaust gas recirculation) units. Progress reviewMr Marry was in the city recently to review the progress of MPL. The 8,000 sq meter facility coming up at SIPCOT industrial area in Sriperumbudur would commence production by October this year, and run to full capacity, employing 250 people, by 2009, he said. The company is currently developing powertrain cooling modules, and aluminium oil coolers for a couple of commercial vehicle and off-highway vehicle manufacturers. “At present, vehicle manufacturers are looking at fully built solutions since the product development team is becoming a significant part of the company’s organisational structure,” said the Managing Director of MPL, Mr Jerry Kapoor. Sourcing programmeModine Thermal has an active sourcing programme for MMC’s global operations. “Both Modine North America and Modine Europe had a 5-year goal of sourcing 30 per cent of their direct material spend from low-cost countries like India,” he said. More Stories on : Outlook | Engineering
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