Birla Precision Technologies, a Yash Birla Group company, today said it plans to spend Rs 40 crore in 2009-10 (April-March) on expanding its automobile components manufacturing capacity.
“We expect to reach a turnover of Rs 100 crore by 2011-12,” Chief Executive Officer M S Arora said in a release. The company, earlier known as Birla Kennametal, is involved in machining, including machining of precision components and castings, and has a manufacturing facility at Aurangabad in Maharashtra.
The company, earlier a joint venture between Yash Birla Group and Kennametal of the US before the former acquired the latter’s stake, will continue to be primary vendor of Kennametal worldwide for tool holder, the release said.
Birla Precision Technologies shares closed at Rs 13.75 on NSE today, down 3 per cent.