The not too long ago announced investment outlay will also considerably enhance TVS Srichakra’s capacities and technological capabilities in the off-highway tyre segment, with a clear concentrate on worldwide markets. All information right here!
TVS Srichakra, element of $ 8.5 billion TVS Group and a major manufacturer of 2 &3 wheeler tyres on Tuesday announced capital expenditure of Rs 1,000 crore to ramp up manufacturing at its Madurai and Pantnagar plants. The investment, planned to be created more than a 3 year period, will outcome in an enhance in 2 & 3 wheeler tyre capacity by 25-30% and doubling of off-highway tyre capacity from existing levels. The corporation will fund the expansion via a mix of debt and internal accruals. The corporation supplies tyres to most two and 3 wheeler producers that operate in India, in addition to holding a important presence in the domestic soon after industry. The corporation is also a major exporter of 2 &3 wheeler tyres. The expansion programme becoming undertaken will concentrate on setting up extra capacities in this space to cater to increasing demand across its client base – each domestically and globally. Included in this investment is a program to improve capacities in the company’s pioneering variety of radial tyres and other premium merchandise.
The investment outlay will also considerably enhance TVS Srichakra’s capacities and technological capabilities in the off-highway tyre segment, with a clear concentrate on worldwide markets. S Ravichandran, director, TVS Srichakra stated, “With a wide distribution network in India, growing international presence and building state-of-the-art capabilities in R&D and product development, we are further strengthening our manufacturing capabilities to cater to the growing demands in India and abroad. We believe that this capital outlay will enable TVS Eurogrip to further its growth aspirations and help strengthen its partnerships with vehicle manufacturers and create new benchmarks in the replacement and global markets. This investment reflects our fullest confidence in India’s recovery and its prospects in the medium to long- term and is our contribution to Atmanirbhar Bharat.”
TVS Srichakra had earlier, in FY 19-20, announced the launch of its new brand TVS Eurogrip as nicely as a new variety of merchandise. The corporation had also announced the setting up of its solution design and style centre in Milan, Italy, in FY 19-20. TVS Eurogrip has been focusing on furthering its acquire in aftermarket even though strengthening its OE presence. The initial response to the new merchandise launched in the preceding fiscal has been encouraging. TVS Eurogrip will additional expand its portfolio in domestic and worldwide markets.
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