EXCLUSIVE: INDIA: Igarashi Motors bags orders from global majors
Igarashi Motors India (formerly CG Igarashi Ltd), a manufacturer of DC micro motors mainly for automotive applications (such as power windows and wipers), has bagged orders from global automotive majors such as Arvin Meritor, Bosch, Delphi, Visteon, Mikuni and Magneti Marelli.
Igarashi has not disclosed the exact volume of the new business orders but said that the value of business from only three of these companies will be at least INR4.5 billion ($US100 million), over the next five years.
These are big orders for a company, which in 2003-04 was only worth INR505.6 million. The company is export-oriented with INR471.0 million turnover coming from exports.
The company is promoted by Igarashi Electric of Japan, which has also decided to make the Indian operations a design centre for Igarashi Motors.
The company estimates that DC motors used per car will increase from an average of 20 units today, to 40 units in 4-5 years.
Deepesh Rathore / Tilak Swarup