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Sona Koyo Steering Systems to invest Rs 100 cr to expand existing units |
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Written by Ganesh
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Wednesday, 07 September 2011 |
New Delhi: Sona Koyo Steering Systems Ltd, the flagship company of the Sona Group of Companies, plans to invest Rs 100 crore this fiscal to expand production capacity at its existing units located in the Gurgaon-Dharuhera region. The company will also set up a new pressure die casting unit at Dharuhera, in Haryana.
Sunjay Kapur, vice chairman and managing director, Sona Koyo Steering Systems, said that the new facility would be ready by the end of this financial year.
He said that Sona Koyo Steering Systems was all set for its foray into the commercial vehicles and farm equipment segments, for which manufacturing will start from next year. It is currently in discussions with major commercial vehicle-makers.
Despite the slowdown in growth, the company is expecting a topline of Rs 1,200 crore on a standalone basis this fiscal, compared to Rs 1,000 crore last fiscal.
Sona Koyo Steering Systems Ltd is India’s largest manufacturer of steering systems and is the supplier of choice to major auto manufacturers with over 45% domestic market share, supplying steering gears, columns and RPS assemblies to almost all Indian passenger car and utility vehicle manufacturers. |
