MUMBAI, INDIA (Dec. 12, 4:25 p.m. ET) — Italian company Solera-Thermoform Group is looking to enter the burgeoning Indian automotive market and is scouting for a local partner.
“The growing size of the Indian automobile industry brings us here,” Daniele Versolato, commercial director for Solera-Thermoform Group srl of Fucecchio, Italy, said in a recent interview at the Automotive Plastics India 2011 in Mumbai. “The potential is huge in India.”
Currently, Solera-Thermoform is surveying the Indian market and considering various options. It is also looking to set up a joint venture with a local business. “We are in touch with few companies. The talks are in very initial stages; we will take some time on finalizing the shape of our India foray. But we are sure to enter the Indian automobile market,” Versolato said.
Thermoforming has wide applications in segments like equipment, sustainability and vehicles.
“Initially, we would focus on the automotive and semi-automotive sector in India, which presents huge potential,” Versolato said.