Foundry Daily News

India - Ashok Minda group to pump in Rs 9 bn for expansion

<font size="2">Ashok Minda Group, India`s leading auto component manufacturer, is planning to invest up to Rs 9 billion over the next 2-3 years on expanding current business and acquisitions, reports agency sources.</font>

<font size="2">The group aims to cross a turnover of Rs 40 billion by 2011-12. It has acquired specialist interior component supplier Schenk Plastic Solutions in Germany for an undisclosed amount. </font>

<font size="2">The group will focus on enhancing its position in four components, security systems, driver information, <a href=";tx_hrtdictionary_pi1[showUid]=8288" target="_top">die casting</a> and interior products. </font>

<font size="2">Ashok Minda Group is currently carrying out a feasibility study to set up one manufacturing facility in either Uzbekistan or Russia. It is also studying the Brazilian market to set up an unit there.</font>

<font size="2">The feasibility studies in Europe and Latin America are expected to complete within next 2-3 months, after which it will proceed further.</font>

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