 "Tristone Flowtech")
Germany-based Tristone Flowtech Group, a former subsidiary of Trelleborg Automotive and a flow-technology systems specialist, has set up a manufacturing plant in Pune, with both manufacturing and warehousing capabilities. In addition it will host the future surge tank production and engine cooling and aircharge hose production units for the Indian market.
The company plans to start production at the plant in the fourth quarter in 2017. It has earmarked around 2.5-3 million euros for setting up its manufacturing facility and kick-starting operations. This investment will be made over the next two years, depending on the business orders.
“We were looking to expand our operations and many of our customers from India were asking us to make the products locally. Seeing the demand, we then began our research for the right location, which had to be an automobile hub. And finally, we decided on Chakan,” said Guenter Froelich, group CEO, Tristone Flowtech.
While sharing some more insight about Tristone’s future strategy and investment plans, Froelich added, “We are willing to invest 2.5 million Euros in the near future. The FDI policy has been very positive so far and we haven’t had any constraints in entering the Indian market. As foreign investors, we in fact are quite keen to start business in India.”
The group, which recorded an annual turnover globally of Euro 228 million in 2015, is expecting a continuous growth in sales of nine per cent to Euro 250 million in 2016.
Tristone Flowtech, established as a spin-off of the former fluid automotive business unit of Trelleborg AB in July 2010, is supplying to automotive customers such as Renault, Nissan, PSA, FiatChrysler, Ford, Volvo, General Motors, VW Group, Suzuki, BMW, Daimler, Suzuki, Bosch as well as to tier-I suppliers.
