Hirotec Group on Thursday inaugurated its new state-of-the-art stamping die tooling facility here to meet the requirements of car-manufacturers in the country.
The Rs 100-crore plant would start building sheet metal stamping dies for the Indian market and achieve an annual manufacturing capacity of 100 dies by 2025, the group president Nori Uno told reporters here.
The company would invest Rs 140 crore over the next 10 years to meet the growing stamping die requirement of the car-makers, he said.
Asked about the industrial climate, he said the Rs 100-crore investment in the Coimbatore facility and also the USD 30-40 million in the Mehsana unit in Gujarat was a clear indication that the company was confident of doing well.
The new investments were being made to expand the group's capabilities in the country to address the growing requirements of the automotive market, Hirotec (US) president and CEO of Hirotec India Jim Toeniskoetter said.
He said the manufacturing facility was to add more value to Indian customers by supporting the existing hemming and assembly tooling solutions of Hirotec India.
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