Component manufacturer Omax Auto, part of the Munjal Group, is in the process of setting up a captive unit for Tenneco. The export oriented unit, being set up in Gurgaon (Haryana), will be used to supply machine components to Tenneco.
The unit is part of the company’s initiative to consolidate its export operations in the Gurgaon region. As part of this initiative, the company is also diverting machinery from its Bangalore plant to Gurgaon. Omax had said earlier that it was planning to use its Bangalore plant to commence exports to Delphi. Omax will now use the Delphi plant to supply to the South India based manufacturers, where it supplies to TVS, Toyota and Sundram Fasteners.
Though the exact size of the order from Tenneco could not be ascertained, this, combined with tie-ups with other global OEMs, would help boost the exports revenue of Omax in the coming fiscal.
The company will spend about INR 800 million over the next two years towards setting up the new units as well as for capacity expansions.
Deepesh Rathore / Tilak Swarup
