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Wheels India, supplier to vehicles including cars, trucks and tractors, will invest over Rs 70 crore this year on expansion.
A significant part of the investment will go into growing the export market, the company’s Managing Director, Mr Srivats Ram, told PTI.
The company has plants at Padi and Sriperumbudur in Tamil Nadu, besides Pune, Rampur, Bawal and Pantnagar, with an overall annual capacity of 15 million wheels, he said.
While over 80 per cent of the business comes from the domestic market, the company exports wheels for off-road construction equipment and agricultural applications to Japan, Korea, the US, Brazil, Belgium, South Africa, China and Indonesia.
Wheels India had earlier this fiscal entered into a technical agreement with Topy Industries, a leading Japanese steel wheel manufacturer, for the process, design and development of car wheels.
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