Rane NSK Opens New Facility for EPS at Gujarat

Rane Group company, Rane NSK Steering Systems Pvt. Ltd., a joint venture with NSK Japan, opens new facility for Electric Power Steering (EPS) at Ahmedabad, Gujarat.

The facility is strategically located at Changodhar,20 kms from Ahmedabad, Gujarat. The new facility will address the expected market demand and serve passenger vehicle customers in this region.

The company will invest around Rs.35 crores this year for a capacity of around 2,50,000 units per annum and this would be ramped up to 6,00,000 units in next two years, with an additional investment of around Rs 20 to 25 crores.

Commenting on the new facility, Mr. L. Ganesh, Chairman of Rane Group said, "The new facility will help Rane NSK to address increasing demand and serve customers in Gujarat and Western region. Initially Gujarat plant will act as satellite plant to Bawal plant and handle assembly operations. We will also be ramping up capacity and bringing in additional processes depending on the demand."

Source : Equity Bulls

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