New Delhi, Jan. 23 Auto component maker Rico is looking to set up an overseas manufacturing unit in Eastern Europe or Thailand in a bid to boost its competitiveness.
The company’s Managing Director, Mr Arvind Kapur, told Business Line, “We are looking to set up a manufacturing unit in Thailand, Eastern Europe or China to make our business more competitive.”
Currently, Rico has a joint venture with Jinfei China for aluminium alloy wheels.
Mr Kapur, however, did not give specific details of whether the company would enter these markets independently or through a joint venture partner. Mr Kapur said that the manufacturing facility the company was considering in these markets could be for powertrain components.
Rico Auto curently manufactures auto parts including brake discs, steering knuckles, clutch assembly, fuel system parts, oil pump assembly, amongst others.