Suprajit bags orders from Textron, Piaggio

Bangalore-based auto component manufacturer, Suprajit Engineering, has bagged substantial orders from Textron, USA and Piaggio of Italy.

Dispatches to Piaggio have commenced, said Ajit Kumar Rai, managing director of the company. The company aims to be the single source for cables in the next two years.

The order from Textron, USA, for lawn mower cables, is the company's first non-automotive order.

The company, having just forayed into non-automotive cables, is gearing up to tap more such orders in both European and North American countries.

To handle production of cables exclusively to the markets of North American and non-EU countries, the company plans to set up an export oriented units in Bangalore. "For this the company has initiated a feasibility study," he said.

For the second quarter of 2005-06, the company achieved a revenue of Rs 28.5 crore, a 35 per cent growth over the corresponding period of the previous year. For whole of FY 2004-05, the company's turnover was Rs 109 crore.

In October, the company had said, it was considering inorganic growth options overseas and was looking at acquisitions.

According to Rai, the company has identified such targets and is in talks. The company is also presently considering capacity expansion to meet domestic export markets and reduce its stake in its associate company, Suprawin Technologies.