New Delhi: Minda Industries Ltd (MIL), the listed arm of the Rs1,000 crore NK Minda Group on 29 August announced the opening of its new factory at Bidadi, Bangalore for the manufacture of blow-moulded parts.
The facility has been set up in technical collaboration with Kyoraku, Indonesia and will supply blow-moulded plastic components to OEMs (original equipment manufacturers) including Toyota.
Kyoraku is a $400 million group with a strong client base in Japan and Indonesia for its blow-moulded parts.
MIL has already spent Rs10 crore on the facility and plans to invest another Rs15 crore. The company is targeting Rs50 crore in revenues from this venture in the next few years.
The factory has come up in a two-acre plot with 40,000 sq. ft of covered area. The installed capacity of the plant is 600,000 parts a year.
Nirmal K Minda, managing director, MIL said, “It is a conscious effort on our part to add value-added products to our product portfolio and blow-moulded parts are the latest addition to this”.
He further added that despite the present pessimistic scenario of the auto sector in the country, the future is very bright and as Indian manufacturers improve quality and embrace technology, the world will soon realise India’s potential as the next global auto manufacturing hub.