Verlicchi-Hema Automotive Co to set up manufacturing facility in Hosur
Two-wheeler components manufacturer, Verlicchi, has finalised plans to enter the Indian market. The Italian company is coming to India in a 50:50 joint venture with the Gurgaon-based Hema Group and Verlicchi-Hema Automotive Company will set up its manufacturing facility at Hosur, near Bangalore, at an estimated investment of around Rs 17 crore.
According to Alessandro Verlicchi, MD - Verlicchi Group, India produces only seven million two-wheelers per year (as compared to China, which makes 25 million per year!), so it still has a lot of scope for expansion and growth.
The Verlicchi Group specialises in manufacturing two-wheeler chassis and the new JV company will start production in November this year, with a capacity of 300,000 chassis per annum. Apart from chassis, the company will also make exhaust systems, suspension components, fuel tanks and various other parts for two-wheelers.
Apart from selling its products in India, Verlicchi-Hema Automotive will also exports motorcycle chassis to American and European markets, by 2011. Verlicchi's global customers include companies like BMW, Harley Davidson, Ducati and Honda.
You need to log in to vote
The blog owner requires users to be logged in to be able to vote for this post.
Alternatively, if you do not have an account yet you can create one here.
Powered by Vote It Up