Mainis float EoU JV with UK firm to make auto parts

Maini Precision Products (MPP), from the Maini Group, and Hampson Industries announced on Tuesday that they have floated a export-oriented joint venture to manufacture precision parts primarily for automotive turbo charger applications.

A joint statement said that Hampson Maini Engineering, a 70:30 JV between MPP and the £69 million Hampson"" manufacturer of assemblies for turbo chargers "" is expected to rake in revenues of over £10 million in the first five years of operation. The JV will commence production in late 2005.

The statement said that the JV will meet the the increasing requirements of Hampson's automotive customers. With this, Hampson's plant in Erlson will grow into a centre of engineering, technical and manufacturing excellence.

Hampson chief executive Kim Ward said, "This tie-up is in line with our strategy to develop and integrate flexible, low-cost manufacturing sources."

Gautam Maini, managing director, MPP said that the joint venture will help MPP to extend its one-stop manufacturing. Hampson, besides being an excellent partner to Maini, will also be a major customer in the years to come."

The JV will operate from a new 50,000 sq feet facility to be built in Bangalore. The tie-up comes in the wake of a booming automotive turbo chargers market. These chargers fitted to diesel engines in light and heavy commercial vehicles are being increasingly favoured, thanks to the tightening fuel emissions regulations.

MPP is an established OEM (original equipment manufacturer) supplier to the likes of General Motors, Powertrain, Eaton, Honeywell, Volvo, Snecma and Bosch.