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Ring Plus Aqua, an automotive component manufacturing subsidiary of Raymond, has commissioned its third manufacturing facility at Sinnar in Maharashtra.
The plant will produce starter ring gears, transmission flex-plates and integral shaft water pump bearings. The company is a major supplier to original equipment manufacturers of BMW, Ford, Maruti-Suzuki, Hyundai, Honda, Tata Motors, Mahindra & Mahindra, Cummins, VECV, Caterpillar and Fiat.
The company has two similar plants at the Sinnar Taluka Co-operative Industrial Estate. The new facility, built with an investment of ₹45 crore, can produce two million ring bearings per annum.
With the effective concept of single piece product-line, the plant will enhance overall capacity to 8.2 million pieces of ring bearings per annum.
Gautam Hari Singhania, Chairman, Raymond, said the Group has a tactical focus on non-core business that has maintained profitable growth momentum. The new plant will add 200 employees to the company’s current strength of 1,100 people, thus making it the biggest employer in Sinnar.
Balasubramanian V, CEO, Ring Plus Aqua, said the plant will help the business increase its global footprint by exploring new customers in the international and domestic market.
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