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MACHINIST - Taurus Flexibles ties up with Cikautxo s. Coop and Mondragon S. Coop

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Home arrow News arrow Auto component arrow Taurus Flexibles ties up with Cikautxo s. Coop and Mondragon S. Coop

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Taurus Flexibles ties up with Cikautxo s. Coop and Mondragon S. Coop
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Written by Vivek   
Wednesday, 14 September 2011

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Pune: Taurus Flexibles, a Rs. 2000mn reputed domestic manufacturer of automotive tubes and hoses, has entered into a strategic association with Spain based Cikautxo s. Coop and Mondragon S. Coop to augment the manufacturing of rubber and plastic hoses for the automotive segment for international and domestic markets.

The joint venture company - Cikautxo Taurus Flexibles Private Ltd. - has been created with the acquisition of 50% stake in Taurus' wholly owned EOU subsidiary in Pune.

"We wanted to raise our profile and enhance awareness of our technological expertise. Both the companies have ingenious approach and technical acumen, which will facilitate augmentation of innovation for both processes and products," said Rishi Kshettry, CEO, Cikautxo Taurus Private Ltd.

"The strategic alliance with Taurus Flexibles have paved our way into the Indian domestic market, undoubtedly one of the fastest growing auto market in the world. The rational production cost in India and technical capabilities will complement our existing manufacturing bases in Spain, Czech Republic, Slovak Republic, Brazil and China and will enable us to meet the global demand," said Victor Arrizabalaga, CEO of Cikautxo s. Coop.

Mondragon and Cikautxo both are cooperatives which are owned by their employees. Cikautxo s. Coop of Spain designs and manufactures parts and assemblies for diverse applications for the automotive industry. It has a turnover of € 220 million. Mondragon recently set up an industrial park in India to provide space to its group companies in the country.

"Cikautxo’s boasts of enviable customer base in India and internationally e.g. VW, Daimler, Ford, Renault, Nissan, GM-Opel, PSA, Behr, Valeo, amongst others and it’s our honour to extend our expertise to some of the best in the automotive industry," said Rishi Kshettry.

 
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