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Japan-headquartered Hirotec Group, a global technology leader in automotive assembly, welding fixtures, hemming, stamping dies and production of sheet-metal parts for passenger cars is quite upbeat about investing in India.
The group, which has invested around ₹280 crore for setting up a facility at Keeranatham in Coimbatore, plans to infuse funds of ₹140 crore over the next 10 years.
Group President Nori Uno was here to inaugurate a new Stamping Die Tooling facility to meet the growing localisation requirements of the automotive market in India.
Briefing media persons, he said: “This investment in India is the largest for the Group outside of Japan. We recently infused ₹35 crore towards building the state-of-the-art stamping-die-tooling facility here, added building space of 7,400 sq metres and in the first phase of this investment on plant and machinery to the extent of ₹65 crore.”
Jim Toeniskoetter, President, Hirotec US and Chief Executive of Hirotec India, said that the auto sector slow down did not impact the group much as the company worked for new cars/models. The company is eyeing revenues of ₹150 crore this fiscal, up from ₹80-90 crore in the last.
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