Anand Auto seeks foreign partners

By Saahil Anant  
Jan 10 2012 , New Delhi


Auto component maker Anand Automotive is looking for partners abroad to enter into electronic components segment. Anand Automotive, part of the Anand Group, already has 14 joint venture partnerships with various global automotive component manufacturers.

“We are talking to various companies for joint ventures in the electronic components segments in which we don’t have a presence. We may look for more than one JV in this space,” said Sandeep Balooja, president (group business development), Anand Automotive.

The company manufactures critical components such as brake systems, coolants, castings, clutch facings, exhaust systems, pistons and gaskets for more than 80 per cent of the original equipment manufacturers including Maruti Suzuki, Hyundai Motor and Honda Siel Cars India. Electronic components systems are present in high-end cars such as BMW and include various functions to regulate engine management system. Balooja declined to reveal the possible international partners that the company is negotiating with.

Anand Group has JVs with firms such as Germany’s Behr for air-conditioning systems and Korea’s Chang Yun Myutec for synchroniser rings. It also operates eight technical collaborations with the likes of Germany’s Continental Automotive Systems and Hamamatsu Gasket in Japan.

Balooja said the group-clocked a turnover of Rs 5,200 crore in 2011. “We expect to grow at 13 to 14 per cent over the next five years. We will invest Rs 1,000 crore in capacity expansion over the next five years,” he added.

(Source : http://www.mydigitalfc.com/news/anand-auto-seeks-foreign-partners-814)