| As part of its expansion plans, Ludhiana-based automotive component manufacturers New Swan Industries will invest Rs 7 crore in more sophisticated machinery. The capacity of its unit will be then enhanced by 50 per cent. |
| With this expansion, the company is aiming to enhance exports by Rs 10 crore. At the same time, it is looking forward to have collaboration with an MNC at Auto Expo in New Delhi, to start on January 12. |
| Speaking to Business Standard, New Swan Autocomp Pvt Ltd Managing Director U S Ahuja said, "We will be adding CMC machines to enhance our capacities, with an investment of Rs 7 crore. The project cost may go up to Rs 10 crore. Once installed, the capacity will be enhanced by 50 per cent. It is difficult to give the exact figures relating to capacity. Forty per cent of our revenue is from exports only. Last year we had exports worth Rs 15 crore. The export figure will cross Rs 25 crore once CMC machines are installed". |
| About the possibility of collaborations, Ahuja said, "We are looking forward to collaboration with an MNC at Auto Expo 2006 and are targeting markets in Germany, France, and Spain." |
| The company is also planning to diversify into assembling automotive components. "Earlier we were providing child components; now we are looking at complete assembling. The idea is to go for new technologies. The rising import of automotive components from China is a matter of worry," Ahuja said. |
| The company's turnover last year was Rs 60 crore. In this financial year, it is expected to go up to Rs 70 crore. |
| This ISO-certified company is a supplier of automotive components to companies like Hero Honda Motors Ltd, Piaggio Greaves Vehicle Ltd, and MICO.
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| Thinking big |
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New Swan to spend Rs 7 cr on upgrade
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First Published: Jan 06 2006 | 12:00 AM IST
