Milan: Italian auto parts maker Sogefi Group is adding new manufacturing capacity in India to increase the share of its Indian revenues to 5 percent of total group sales in the next five years from a current 1.2 percent, it said today.
“The consolidation of our presence in India and the new investments we plan to make in China will make Sogefi an increasingly global supplier able to provide manufacturers with the most advanced technologies in the main markets they operate in,” said Sogefi chief executive Emanuele Bosio in a statement.
Car parts. Reuters
Sogefi said on Wednesday it opened a new suspension components plant in Pune, India, and that it is doubling the size of its filter factory in the Bangalore area in tandem with its joint venture partner MNR.
Sogefi’s total investment in India is about €10 million, it said, with a total of three plants and over 500 employees.
Sogefi, controlled by holding company CIR , has 44 plants in 16 countries.
Total group revenue in 2011 was €1.16 billion, up 25.3 percent year-on-year.
The new Pune plant will supply Tata, Mahindra, Fiat and Piaggio.
The company said that “in the near future” it will add General Motors , Ford and Renault-Nissan to its client list, as the Indian and Asian markets boom.
Reuters
