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Caparo developing 6 new engineering ventures Print E-mail
Written by Arjun   
Friday, 05 October 2007
Haryana: Caparo plc has acquired 100 acres of land in Bawal, Haryana, India for development of six new engineering ventures for its Vehicle Products India division. The company already operates 2 stamping plants in the region through their joint venture with Maruti Suzuki. The new land, situated 70 km from Gurgaon, has been allocated via the HSIIDC (Haryana State Industrial & Infrastructure Development Corporation) and is required following accelerated growth and increasing demand from customers in Northern India and new markets such as aerospace. The new ventures will support the growth of automotive OEM’s in the region including Honda Cars and Tata Motors. The total projected investment is Rs. 510 crores with anticipated annual sales of Rs. 850 crores and employment for 2000.

Angad Paul, CEO of Caparo plc said, “The site will encompass sheet metal stamping facilities and will be complemented by our Tailor Welded Blanking factory, which is also situated in Bawal. Plans are in place to develop a Steel Service Centre offering value added services like cutting, blanking and slitting to suppliers with “Just in Time” requirements and a steel tube plant will also be constructed to cater for the needs of the automotive and non automotive engineering industry”.

Sunil Pahilajani, Country Head for India added, “We also look forward to leveraging technology from UK sister companies Caparo Tube Components and Caparo AP Braking. Our aim is to develop a sophisticated braking system facility as well as a suspension system facility, which will provide local OEM’s with endurance testing and simulation; a much needed resource”.

In India, Caparo’s activities are focussed on the automotive components sector and products include pressings, fasteners, aluminium castings, forgings, tubing and tubular components. Caparo India currently operates on 15 sites but expects to complete construction of a further 16 plants by the end of 2008. Sales for Caparo India are expected to exceed 2000 crores in 2009.

Following an increase in the number of enquiries from the aerospace market and to support the rapid development of the company, Caparo has appointed KPMG to attract private equity investment into its Indian division, further accelerating the growth plan and to ensure the company keeps pace with the growing needs of its customer base.
Last Updated ( Monday, 07 January 2008 )
 
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