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Vega Auto Accessories Pvt Ltd, a leading helmet manufacturer, is setting up a new production unit at Belgaum at an investment of ₹100 crore.
The new plant, which would commence operations by 2020, would take production to 20,000 to 22,000 helmets per day, thereby, making Vega the world's largest helmet manufacturer, said Girdhari Chandak, Managing Director, Vega Auto Accessories.
At present, the company has three production units – two in Uttarakhand and one in Belgaum – with a total production capacity of 12,000 helmets per day, he said.
Chandak was in Kochi to launch a series of internationally certified helmets in the Kerala market.
Of the estimated ₹1,000-crore helmet market in the country, majority share is in the unorganised segment. Vega has 35 per cent share in the organised helmet market. But the share is much higher in South India, at 50 per cent. Vishal R.Gite, national marketing manager said.
The company also caters to the export market and of the total production, around 40 per cent goes to the US, Europe and Asian countries. Vega is a major OEM and contract manufacturer and it does contract manufacturing for several international brands, he said.
Vega Auto Accessories also plans to double its dealer network to 800 by 2020, he added.
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