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Home arrow Automotive arrow ADVIK Group to invest Rs 500 million to set up three new plants
ADVIK Group to invest Rs 500 million to set up three new plants Print E-mail
Written by Anand   
Wednesday, 11 November 2009
Pune: Auto Component manufacturer, ADVIK Group, plans to set up three new plants at Chakan, Manesar & Pantnagar in the next 3 years with an investment of Rs. 500 million. As part of it' growth strategy, the company has also recently formed ADVIK Precision Pvt. Ltd.

With this expansion strategy, the group expects to reach Rs.1600 Mn by the year 2013 with 20 % exports. The company is targeting Revenues of Rs.750 Mn. for 2009- 2010 and aims to supply 12 million assemblies in 2009 - 2010.

ADVIK Group of Companies manufacturers auto components like Lifter Tensioner Assemblies, Oil Pumps, Fuel Pumps, Fuel Feed Pumps, Fuel Cocks, Decompression Units, Water Pumps, Drum Gear Shifter, Starter Gear Reduction, Kick Shaft Assembly, Combi - Brake System, etc for Automotive Original Equipment Manufacturers.

The proposed plant at Chakan will be set up with an investment of Rs.350 Mn and is expected to be operational by the end of 2010 . It will have an installed capacity to manufacture 0.5 Mn oil pumps in Phase I & 1 Mn oil pumps in Phase II. It will be state of art facility and fully equipped to manufacture Oil Pumps, Water Pumps and Hydraulic Tensioner for 4 wheeler industry.

The company plans to set up 2 more plants at Manesar & Pantnagar in addition to the one at Chakan and increase its human capital to 700 people by 2012

Outlining the company's expansion plans, Mr. Aditya Bhartia, Managing Director, ADVIK Group of Companies today also announced the companies foray into manufacturing of auto components for Four Wheelers by entering into a technical collaboration with Trochocentric® GmbH.

"Our company's vision to design, develop, manufacture and supply Technically Superior Automotive Products to all vehicle manufactures globally has led to the formation of ADVIK PRECISION PVT.LTD. We are entering into an exclusive long term technical collaboration with Trochocentric® GmbH for Design, Development and manufacture of Oil Pumps. This tie-up will provide us access to the cutting-edge and latest technologies of a global market leader with 30 years of experience and expertise in R&D of oil pumps," said Aditya Bhartia.

"The demand of the Indian automotive industry made it logical for us to enter into a formal technical collaboration with a young company like ADVIK, which we feel holds great promise and allows adoption of our technology," said Cristof Haerle, General Manager Trochocentric® -GmbH.

 
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