Michelin announces Rs 4,000 crore investment in India
French tyre manufacturer Michelin will set up a new manufacturing facility at Gummidipoondi (about 40km from Chennai), for which it will invest Rs 4,000 crore over a period of seven years. Michelin intends to produce truck and bus radial tyres at this plant, which is expected to be operational by 2012. These tyres will initially be meant only for the Indian market, though Michelin may also cater to some overseas markets at a later stage.
Michelin's tyre manufacturing facility will be situated on a 290 acre chunk of land situated in the SIPCOT industrial estate at Gummidipoondi. Michelin, which already supplies tyres to companies like Honda, Mercedes-Benz and Volvo in India, currently imports most of its tyres from its plant in Thailand.
This isn't Michelin's first foray into the Indian tyre market. The company first came to India with MRF in the early-1990s (the partnership was dissolved in the mid-1990s) and then set up a joint venture (for truck and bus radial tyres) with Apollo Tyres in 2003, which also ended in 2005.
[Via: cartradeindia]
Hero Motors announces US$ 250 MN MoU with BRP-Powertrain
Hero Motors Limited, part of the US$ 4.5 billion Hero Group today signed a five year Memorandum of Understanding (MoU) worth US$250 MN with BRP-Powertrain for manufacturing transmissions.
This MoU will strengthen the strategic alliance between BRP-Powertrain and Hero Motors Limited while establishing the latter as the hub for manufacturing transmissions.
Hero Motors also announced its new design outsourcing vertical "Hero Innovation Centre" imbibing "Design to Cost" concept and supporting the BRP-Powertrain manufacturing base.
Commenting on the MoU, Pankaj Munjal, MD, Hero Motors said "This MoU is a significant step in expanding the existing long term strategic alliance with BRP-Powertrain. This gives us an opportunity to showcase our expertise in engineering design and deliverance of end- to-end solutions to customers."
Mr. Munjal added, "The Hero Innovation Center with strong R&D team and excellent product design ability will map out knowledge and techniques to provide customers with flawless service, higher efficiencies and lower cost production."
"We envisage innovative breakthroughs and operational efficiencies as direct benefits of our collaboration with Hero Motors. We have derived exceptional value in the past and we are now happy to extend our strategic partnership. This alliance will further strengthen our global position and scale up our transmission equipments range for our products" said Michael Mayringer Ing, Director Purchase, BRP-Powertrain.
The Recreational Transmission division of Hero Motors was commissioned as a Strategic Business Unit in 2005. Since its inception, it has grown to become one of the foremost entities in the manufacturing and supply chain management of transmission assemblies for Fun and Sports vehicles to the European markets. Currently, Hero Motors has orders from companies like BMW, Harley Davidson, Getrag catapulting the company globally.
[Via: cartradeindia]
Suzuki announce new Hayabusa & GSX-R750 colours
Following the announcement last month of a new colour scheme for the GSX-R1000 , Suzuki GB has now added a further two colour options to their Supersport range, with a new limited white GSX1300R Hayabusa and an orange and black GSX-R750.
Available this month from any authorised Suzuki dealer, the two new additions offer greater choice for customers, brought about by consumer interest at the many outdoor events that Suzuki GB attend. Suzuki GB marketing manager, George Cheeseman commented, "With the white colour option already proving a very popular choice on other models, we believe that the limited run of 200 white Hayabusas will be extremely popular. Equally, with only 175 orange and black GSX-R750s available this will appeal more to customers looking for something unique.
Source: Suzuki
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