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NK Minda group's new plant at Manesar

15/09/2011 | Author: Autoguide | 1 Comments Back To Home   < Previous News   |   Next news >

The inauguration ceremony

NK Minda Group, a USD 403 mn auto components manufacturer recently inaugurated its new plant in Manesar, Gurgaon, which will use a superior quality Japanese process, for production of painted wheel covers for Indian OEMs manufacturing four wheelers. The plant was inaugurated by Mr. S. Maitra, CEO, Supply Chain, Maruti Suzuki India Limited (MSIL). The Group has invested about Rs. 5 crore in the plant and production will begin by January 2012 with a set annual volume of 1,20,000 pieces and installed capacity of 6,00,000 pieces wheels annually. Within the same space and paint facility and with increase in moulding machines, capacity can also be enhanced to thrice over. The plant is expected to reach the break-even point by 2013-14. The production and sale of these wheel covers will be taken care of by two separate JV companies. Mindarika Pvt Ltd (MRPL), a group company of NK Minda Group, will manufacture the painted wheel covers, and Tokai Rika Minda India Pvt Ltd (TRMN) will be responsible to supplying it to OEMs. MRPL and TRMN are existing Joint Ventures between Minda Industries Limited and Tokai Rika, Japan. In MRPL, Minda Industries Limited holds a share of 63 per cent and Tokai Rika holds 37 per cent, whereas for TRMN it is 30 per cent and 70 per cent respectively. These joint ventures were formed with the aim of introducing new products in markets, other than automotive switches. Both TRMN and MRPL are looking forward to be in the top three suppliers of the ‘painted wheel covers’ market. According to Mr Nirmal Kumar Minda, CMD of the NK Minda Group says, “the wheel cover market has a potential to reach Rs. 100 crore (USD 20 million) in the near future. MRPL has the technical competence and capability to manufacture wheel covers of varied thickness, up to 1.2mm, over and above its contemporaries. This gives a weight reduction advantage to OEMs. Tokai Rika, Japan is an established player in the field of wheel covers and provides full technical support to the JV companies. It is a major supplier of wheel covers to most OEM’s in Japan.” The NK Minda Group has already received and developed an order from Maruti Suzuki India Ltd (MSIL), which will be in SOP by  the last quarter of 2011.The group also has potential RFQs at advanced stages of discussions with other OEMs. Mr Minda said that, “in this rapidly expanding market, there is a huge potential for expansion of players with proven technology. Mindarika might evaluate further investments in tooling to serve the aftermarket. However, the current focus of the company on developing more designs for OEMs.”  

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  • Pradeep 2017-07-27 07:33:58 Reply | Offensive

    I am tool and die making