Hitachi to buy 2 Indian auto casting firms
17 March 2014 4:47 AM IST
This is deemed to create a more robust manufacturing and supply organisation in India for its automotive castings — particularly the high-toughness ductile iron castings of the HNM series — capable of reliably meeting burgeoning demand in India, and at a faster pace.
Hitachi Metals Ltd decided to accelerate its production and supply of high grade automotive cast iron products (HNM) by acquiring Indian Automotive Iron Casting Foundry, which is currently the partner of TTBCA. Projections are that the number of cars manufactured in India will climb to over 7 million units by 2020, up from 3.9 million in 2013, with expectations that the market will rise in importance.
Considering the fact that building a stronger manufacturing and supply organisation in India was necessary to meet the substantial rise in demand, Hitachi Metals and Nam Yang Metals CoLtd formed a technical & sales partnership with Indian firms RPS Vikas Castings Pvt Ltd and Garima Vikas Metals Pvt Ltd focused on automotive castings.
The two Indian companies have an automotive firm customer base that stretches pan-India and extends to Japan, the US and Europe. Along with providing technical guidance, Hitachi Metals already had a manufacturing and supply organisation in place, but to handle rapidly expanding demand needed to accelerate the expansion of the organization.
The Hitachi Metals Group will take a 51 per cent share through group members Nam Yang Metals and Hitachi Metals Singapore Pvt Ltd, which will take equity stakes in RPS Vikas and Garima Vikas, with whom they already have a technical & sales partnership in India.
‘Adding India to the locations already producing the high-toughness ductile iron castings HNM series —Japan (Moka Works), Korea (Nam Yang Metals) and the U.S. (Hitachi Metals Automotive Components USA, LLC) — Hitachi Metals will have four global manufacturing and supply bases. This will enable us to dynamically respond to worldwide automotive demand as the Hitachi Metals Group strives for additional worldwide growth,’ beamed Hitachi Metals India MD Sanjeev Seth.
NYM and HMA, group companies of HML will invest in RPS and Garima for taking a 51 per cent share. This will accelerate HNM production and supply in India. Hitachi Metals also plans to establish four production bases globally, together with Moka, NYM, and HMAC. The sales target is $40 million per annum by 2016.
Hitachi Metals Ltd decided to accelerate its production and supply of high grade automotive cast iron products (HNM) by acquiring Indian Automotive Iron Casting Foundry, which is currently the partner of TTBCA. Projections are that the number of cars manufactured in India will climb to over 7 million units by 2020, up from 3.9 million in 2013, with expectations that the market will rise in importance.
Considering the fact that building a stronger manufacturing and supply organisation in India was necessary to meet the substantial rise in demand, Hitachi Metals and Nam Yang Metals CoLtd formed a technical & sales partnership with Indian firms RPS Vikas Castings Pvt Ltd and Garima Vikas Metals Pvt Ltd focused on automotive castings.
The two Indian companies have an automotive firm customer base that stretches pan-India and extends to Japan, the US and Europe. Along with providing technical guidance, Hitachi Metals already had a manufacturing and supply organisation in place, but to handle rapidly expanding demand needed to accelerate the expansion of the organization.
The Hitachi Metals Group will take a 51 per cent share through group members Nam Yang Metals and Hitachi Metals Singapore Pvt Ltd, which will take equity stakes in RPS Vikas and Garima Vikas, with whom they already have a technical & sales partnership in India.
‘Adding India to the locations already producing the high-toughness ductile iron castings HNM series —Japan (Moka Works), Korea (Nam Yang Metals) and the U.S. (Hitachi Metals Automotive Components USA, LLC) — Hitachi Metals will have four global manufacturing and supply bases. This will enable us to dynamically respond to worldwide automotive demand as the Hitachi Metals Group strives for additional worldwide growth,’ beamed Hitachi Metals India MD Sanjeev Seth.
NYM and HMA, group companies of HML will invest in RPS and Garima for taking a 51 per cent share. This will accelerate HNM production and supply in India. Hitachi Metals also plans to establish four production bases globally, together with Moka, NYM, and HMAC. The sales target is $40 million per annum by 2016.
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