Spark Minda, Ashok Minda Group inaugurates its third Die Casting plant at Pune, takes a significant leap towards investment in Aluminium Die-Casting to foresee huge potential & spur demand from growing Indian & Global Automotive Industry.Key Highlights of the Plant:
- Competency Centre for Excellence - Gravity Die Casting & Low Pressure Die Casting with High precision Machining Centre and Powder Coating.
- Well-equipped Test Lab with added facilities like X-Ray, Metallurgy & Mechanical and Environmental test equipment’s.
- Spread over 10 acre land, the new plant expects incremental sales of Rs. 200 cr per annum in next couple of years, total order booked for this plant of approx. Rs. 175 cr per annum.
- existing production capacity for Die Casting Division is 8,500 MT p.a. and for FY 2018-19 target is 9,700 MT p.a.
- Initial Capital investment of Rs. 100 cr in Phase -1.
New Delhi, 07th February 2018: Global Automotive Component Manufacturer ‘SPARK MINDA, Ashok Minda Group’ (“Spark Minda” or “the Group”) today announced the inauguration of its state of the art Die Casting manufacturing plant at Chakan, Pune by its flagship company ‘Minda Corporation Limited’. The Group has set up its third state of art Die Casting manufacturing facility exclusively for Aluminum Gravity Die Casting & Low Pressure Die Casting with machining in Punefor two and four wheeler products.
Minda Corporation Limited (NSE: MINDACORP, BSE: 538962, a flagship company of Spark Minda, Ashok Minda Group) made an initial investment of Rs 100 cr. for new Die Casting manufacturing facility. The Company already operates dedicated Aluminium and Zinc Die Casting machine components at their Greater Noida and Pune facilities for turbocharger system, braking system, handle mounting components and engine mounting components for the automotive market. Inauguration of third Die Casting plant in Pune will suffice the Indian as well export demands. The new facility is equipped with Competency Centre for Excellence for Gravity Die Casting & Low Pressure Die Casting.
The Group has already received significant Export order worth more than Rs 100 Cr of annual business for European Passenger Car Market.
Mr. Ashok Minda, Group CEO, Spark Minda, Ashok Minda Group said, “Spark Minda follows a strict principle of Quality and Customer focus. We always cater in the best possible manner for our products and technological demands. Establishment of our new plant at Pune will enable Group to suffice the rising demand of Die Casting components for Indian & Global Automotive Customers. We have pumped an initial investment of Rs 100 cr, this investment will further escalate so as to cater the demands of automotive industry. We stand proud to serve our global customers in the most distinct manner with a vision and mission to expand beyond geographical boundaries”.
Mr. N.K Taneja, Group Chief Marketing Officer, Spark Minda, Ashok Minda Group said, “Automotive industry is undergoing a huge overhaul with rising technological advancements where we see combined demands coming from National and International markets. Inception of this new Die Casting facility under the umbrella of Spark Minda is a new milestone which will suffice product deliveries to various parts of world. Spark Minda has been strong player in Gravity Die Casting, continuing the legacy the new plant will develop and integrate products with our recently inaugurated Technical Centre (Spark Minda Technical Centre - SMIT) located at Chakan, Pune.”
Mr Sudhir Kashyap, Executive Director & CEO, Minda Corporation Limited said, “Year 2018 marks an exceptional start for Spark Minda, where we recently saw inauguration of our Technical Centre and now new Die Casting plant which will open new horizons for Group in components manufacturing. We have dynamically aligned our technological processes with product development to establish a trade mark of superiority in the products we develop and manufacture. We operate on simple DNA of “Powered by Passion” and we are confident enough to take our capabilities to another level with each passing year”.
Spark Minda, Ashok Minda Group’s legacy goes back to 1958 when the first operation was set up in India. Today, 60 years later, Spark Minda has 35 manufacturing facilities world-wide, and provides direct employment to more than 16,000 people and indirect employment to several thousands more. Over the past few years, Spark Minda, Ashok Minda Group has done strategic acquisitions in Germany & Poland along with green-field projects in Indonesia, Vietnam, Uzbekistan and Czech Republic. Our recent endeavours include; setting up a new manufacturing facility at Mexico, besides acquisition of EI LABS India Pvt. Ltd. which will further enhance our Group’s expertise in Connected Mobility and IoT Solutions. The Group has also inaugurated its R&D centre at Pune– Spark Minda Technical Centre (SMIT) which takes a significant leap towards investment in technology leadership and creates a robust platform to emerge as a System Solution provider in the growing automotive industry.
The Group has made several fruitful and successful Joint Ventures/ relationships with the best of the automotive industry players around the world in the domain of designing and manufacturing namely; Stoneridge of USA, VAST of USA, SBHAP of China, SILCA of Italy, Furukawa of Japan & UzAvto of Uzbekistan as our JV Partners. We are privileged to serve Global OEM players such as VW Group, BMW, Daimler, Ford, Renault Nissan, General Motors and so on. In India, our prestigious customer names include the leading OEM’s such as Mahindra, TATA Motors, Ashok Leyland, Honda, Renault Nissan, Maruti Suzuki, Bajaj, Yamaha, TVS etc. We are also catering to Tier-1 Customers such as Honeywell, BorgWarner, Bosch, Brembo, Delphi, Cummins besides others. Our growth oriented initiatives and relationship with some of the most reputed OEM manufacturers have enabled us to report strong growth over the year.