NEW DELHI (Jan. 9, 12 p.m. ET) — Minda Corp. Ltd. is expanding capacity at the existing automotive plastic manufacturing unit and planning to set up two more plants in the next five years.
“We are expanding the Chaken, Pune, plant and it would completed by June 2012. We have decided to set up two more units in Chennai, Tamil Nadu, by end of 2013 and the second one at Sanand, Gujarat, by the end of 2014,” said Sandeep Aggarwal, vice president of business development, in an exclusive interview at the Auto Expo 2012 at New Delhi.
“We are planning to make an investment of about US$ 50 million in the expansion and two plants in the next five years,” he said.
The company is having success in metal-to-plastic conversion.
“Composite plastic is as strong as steel or metal and that is the reason plastic is increasingly replacing steel or metal components in the automotive sector around the world,” he said.
Sandeep said the company has a deal to supply interior components for GM India's Sail hatchback. It is also supplying interior parts to the latest VW Polo & Vento, Skoda Fabia hatchback, and Tata Motors Sumo Gold.
Minda has also extended its plastic footprint in Europe by making series of acquisitions in the past five years.
Minda KTSN Plastic Solutions GmbH & Co. KG (MKPS) is located at Pirna, near Dresden, Germany. Minda Schenk Plastics Solutions specializes in automotive interiors for cars. That unit is based in Esslingen, Germany, and has two plants in Esslingen and in Liberec, Czech Republic. It has also acquired Alu Automotive in Poland and Axis Automotive in Kongin, Germany.