ADVIK Group of Companies enters into technical collaboration with Trochocentric GmbH

- Plans to set up three new plants at Chakan, Manesar Targets Revenues of Rs.750 Mn. for 2009- 2010; Aim to supply 12 Mn assemblies in the 2009-2010

Pune, Maharashtra, India - November 9, 2009 - ADVIK Group of Companies a leading manufacturer of Auto Components is on an expansion drive. As part of this growth strategy, the company has recently formed ADVIK PRECISION PVT.LTD. Mr. Aditya Bhartia, Managing Director, ADVIK Group of Companies today announced the companies foray into manufacturing of auto components for Four Wheelers by entering into a technical collaboration with Trochocentric® GmbH.

ADVIK Group of Companies manufacturers auto components like Lifter Tensioner Assemblies, Oil Pumps, Fuel Pumps, Fuel Feed Pumps, Fuel Cocks, Decompression Units, Water Pumps, Drum Gear Shifter, Starter Gear Reduction, Kick Shaft Assembly, Combi - Brake System, etc for Globally Renowned Automotive Original Equipment Manufacturers.

The expansion plan was outlined today at a press conference hosted by Mr. Aditya Bhartia, Managing Director, ADVIK Group of Companies. Also present on the occasion were Mr. Rakesh Yadav, General Manager Marketing, and Mr. Herman Haerle, Mr. Cristof Haerle, and Ms. Monika Haerle-Meer from Trochocentric® -GmbH. Speaking at the press conference Mr. Aditya Bhartia, Managing Director, ADVIK Group of Companies said, "The automotive industry is at the centre of India's new global dynamic. Our company's vision to design, develop, manufacture and supply Technically Superior Automotive Products to all vehicle manufactures globally has led to the formation of ADVIK PRECISION PVT.LTD. We are entering into an exclusive long term technical collaboration with Trochocentric® GmbH for Design, Development and manufacture of Oil Pumps. This tie-up will provide us access to the cutting-edge and latest technologies of a global market leader with 30 years of experience and expertise in R&D of oil pumps." He added.

In his comments Mr. Cristof Haerle, General Manager Trochocentric® -GmbH. Said, "The demand of the Indian automotive industry made it logical for us to enter into a formal technical collaboration with a young company like ADVIK, which we feel holds great promise and allows adoption of our technology.

The proposed plant at Chakan, to be operational by the end of 2010 will be set up with an investment of Rs.350 Mn. It will have an installed capacity to manufacture 0.5 Mn oil pumps in Phase I & 1 Mn oil pumps in Phase II. It will be state of art facility and fully equipped to manufacture Oil Pumps, Water Pumps and Hydraulic Tensioner for 4 wheeler industry.

The Indian auto component industry has reached a turnover size of US$ 15 billion in 2006-07. The auto parts industry has emerged as one of India's fastest growing manufacturing sectors, growing at a compound annual growth rate (CAGR) of 28.9 per cent in value terms between 2002-03 and 2006-07. The exports of auto components industry reached around US$ 2.9 billion in 2006-07 and at a CAGR of 40 per cent between 2002-03 and 2006-07. Today the ADVIK Group is concentrating on its core competencies of engineering and up gradation. The company plans to set up 2 more plants at Manesar & Pantnagar in addition to the one at Chakan and increase its human capital to 700 people by 2012

With this expansion strategy, the group expects to reach Rs.1600 Mn by the year 2013 with 20 % exports.

Source : IndiaPRWire

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