NEW DELHI (Jan. 9, 12 p.m. ET) — Leading automotive plastic component maker OK Play Ltd. opened a plant in Ranipet, Tamil Nadu, in early 2011, to cater to the south India auto hub. Now the company is planning two additional plants.
The rotational molder has a goal of reaching annual sales of US$100 million by 2016.
“We have plans to set up country-wide manufacturing facilities, one in each region, to emerge as [the] largest supplier of plastic fuel tanks to the Indian automotive industry,” said managing director Rajan Handa, in an interview at the New Delhi Auto Expo.
“We are planning to set up two more plants in Pant Nagar and Jamshedpur in the next two years,” Handa said. “We are planning to widen our product range in the automotive sector. We are bringing in some new technology into the country and we could not share more information on that at this point of time.”
The company was initially incorporated under the name Aquapure Containers Ltd. in 1998 to manufacture water storage tanks. In 1990 it diversified into toys, school furniture, playground equipment, automotive tanks and other products.
“In 1992, we acquired a British toy manufacturing company OK Play, and diversified into the manufacturing of toys, changing its name to OK Play India Ltd. in 1993,” Handa said.