An Indian valve manufacturer has signed a EUR2.2m per year export contract with Volkswagen.
Rane Engine Valves has been supplying engine valves for the Golf and Polo models since 2003 and its current sales turnover is EUR2m per year, according to webindia123.com.
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The company will now increase the capacity of its Aziz Nagar plant in Hyderabad to meet the demands of the new contract and is finalising a location for its fifth plant to meet future Volkswagen needs and its other domestic and overseas customers.
According to the Bombay Stock Exchange the new contract will commence in 2007.
