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Home arrow Automotive arrow Autoline Industries Ltd's US subsidiary bags contracts worth USD 40 million
Autoline Industries Ltd's US subsidiary bags contracts worth USD 40 million Print E-mail
Written by Vivek   
Thursday, 29 October 2009
Mumbai: Autoline Industries Ltd. announced today that it's wholly-owned subsidiary, Autoline Industries USA, has received orders to manufacture Brake and Clutch Pedal Assemblies from two US automakers for two vehicle platforms that will launch in late 2010.

Under these contracts, the company will manufacture more than 500,000 Brake and Clutch Pedal units per year. The new business is expected to increase sales of the US unit by USD 40 million over the next 4 year period.

Autoline Industries Limited is a manufacturer of pressed sheet metal automotive components and assemblies, and is engaged in Design Engineering for automotive OEMs based in India, the US and Europe. The company operates 9 plants with total production space of approximately one-million square feet and currently has more than 2500 employees of which 300 are design engineers.

Mr. Sri Bramadesam, President of Autoline USA said "The US operations of Autoline have essentially doubled its sales during 2009. We took advantage of the market conditions and have established ourselves as a significant player in the industry. Additionally we have diversified our product offerings by entering adjacent markets using our core competence of stamping and welding. We are very excited with the confidence the customers have placed in us by awarding the new business and we expect to grow 25 % YOY for the next few years."

On December 31, 2007, Autoline Industries Limited had acquired 100% stake in Nirmiti Auto Components Private Limited (India) which primarily manufactures pedal systems for the India market.

Mr. Radhakrishnan, Jt. Managing Director of Autoline Industries Limited (India) stated, "We are excited to see such a positive response to the expanding capabilities of our US operations. We are now seeing firsthand that US-India collaboration can prove to be beneficial to both countries. We look forward to further growth in this market over the coming years."

The Autoline USA subsidiary, located in Butler, Indiana was acquired in December 2007 from Dura Automotive Systems, Inc, and is focussed on the manufacture of Driver control systems, Jacks, Tool kits and various assemblies. On December 24 2007, the company acquired 51 % stake in DEP Autoline (formerly known as Detroit Engineered Products, Inc) in Troy, Michigan, which is a product development and engineering group focussed on the design of transportation systems.

 
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