NEW DELHI — Decorative plastic component maker Polyplastics Industries (I) Pvt. Ltd. is building two more plants in India to supply parts to supply the front grille to new products for the Indian market.
A site in Bawal will supply the new Celeron model from Maruti Suzuki while a second facility in Chennai will focus on Nissan Motor Co.’s new Datsun Go, said Rajeev Gupta, senior manager of business development for Polyplastics during an interview at the New Delhi Auto Expo.
The company will invest about 25 crore Indian rupees ($4.5 million) in the plants, which will open in 2014. They join existing production sites in Yamuna Nagar, Rewari and Pune.
Polyplastics’ key technical collaborations with Nagoya, Japan-based Sakae Riken Kogyo Co., provides the company with support in molding grilles, roof moldings, side protectors, mirrors, door handles, wheel covers and emblems. It also have an agreement with Zanini Auto Group of Barcelon for parts such as wheel covers, steering column covers and exterior painted parts.
“We export to 25 countries and [General Motors Co.] is one of our key clients internationally,” Gupta said.
It has injection molding presses ranging from 50 metric tons to 660 metric tons and estimates it makes more than 100,000 grilles each month.
The company is growing at the rate of around 20 percent annually.
“There is slowdown in the Indian auto industry, which also reflects in our growth. We could grow much faster but our growth directly depends on the growth of the Indian auto industry as a whole,” Gupta said.