Piolax India, a subsidiary of Japanese auto component manufacturer, Piolax, inaugurated its manufacturing facility at the Sri City industrial park in Andhra Pradesh on Wednesday.
The facility has been set up with an investment of around Rs 38 crore and produces products including coil springs, wire forms, and metal/plastic fasteners for the automotive and other sectors. It will be supplying these products to Nissan, joint ventures of Ashok Leyland-Nissan and Renault-Nissan, and Honda among others, a press release. said.
“Of the 12-plus Japanese companies inside Sri City, Piolax is the third to commence production with others in various stages of construction or planning. The company facility is spread over 4 acres and is expected to employ about 200 people,” said Ravindra Sannareddy, managing director, Sri City.
Piolax Inc, is a manufacturer of automotive parts such as industrial fasteners and compact units. It has manufacturing facilities in the US, UK, China, Thailand and now in India. The company also caters to consumer, security and medical sectors.
Sri City features a multi-product special economic zone (SEZ).