Swiss auto clamps maker Oeitker Group on Monday opened the first phase of its manufacturing facility in India and its ninth globally, at Patalganga in Maharashtra.
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“We have invested INR600m in phase one and hope to start work on the second phase by the end of next year, group chief executive officer Ulrich Meier told the Economic Times of India (ETI).
The plant has an installed capacity of 75m clamps a year but is starting at about 3m a month and plans to reach full capacity by 2011.
Oeitker arrived in India in 2006 by opening a subsidiary, Oeitker India, but confined itself to trading activities initially.
Over 12m Oeitker clamps are imported by Indian OEMs a year, the paper said.
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By GlobalDataOpening the plant would help the company cater to the domestic industry on its own and reduce the need for OEMs and automakers to import with associated difficulties.
A vehicle generally requires 40-60 clamps and India produced 9.65m vehicles in 2008 with 3% growth likely this fiscal year, the ETI added.
