Mando Corp. on Thursday said it would set up two factories in India this year to increase production in the fast-growing car market, according to Reuters.

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Mando, which already has a brake system plant and a research centre in India, reportedly said it would establish a steering system factory and a foundry in India, investing part of the 185 billion won (US$192.3m) the company earmarked for capital investment in 2006.


Mando said it was also considering companies in Russia, Iran and the Czech Republic, but did not elaborate, Reuters added.

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