Munjal Kiriu Industries commissions new auto component plant in Gujarat

Bicycle maker eyeing Rs 2,500 cr from business by 2022; JV eyeing 90,000 tpa capacity by March 2018

Eyeing the ventilated disc and drum market for car original equipment manufacturers (OEMs) in western India, bicycle maker Hero Motors commissioned the first phase of its 1,500-tonne-per-month (tpm) plant in joint venture with Japan's Kiriu Industries. 

Hero Motors plans to up its turnover to Rs 2,500 crore, marking an over two-fold increase, by 2022. Currently, the company has a turnover of around Rs 1,000 crore from its auto-components business. It manufactures chassis, transmissions, brakes, drums, discs, and knuckles. 

Formed in 2007, Munjal Kiriu Industries Pvt Ltd (MKIPL), which already has a plant at Manesar (Haryana), has a 40 per cent