NEW DELHI — Automotive molder Varroc Engineering Pvt Ltd. is further expanding in India, with plans for two greenfield plants in the next 15 months.
Ravi M. Damodaran, president for technology and strategy at the Aurangabad, India-based company, said the locations for the new plants will be decided “in the next couple of months.” He was interviewed at the Auto Components Manufacturers' annual conference in New Delhi.
Investment in the plants, which will probably be in northern and western India, will be about $16 million to $25 million, he said. Both plants will injection mold motorcycle components.
“The first plant would be operational in 2014 and second in early 2015,” he said.
Varroc, which also has operations in China generating annual sales of $130 million, currently has 35 manufacturing plants, and eight technical/development centers in 10 countries.