Dayco Europe of Italy has entered into a joint venture with the Vikas Group to manufacture new generation automotive components for domestic and export markets. Under the agreement, both will share financial and technological resources with the intent to jointly design, construct and operate a world-scale manufacturing facility for their product range.

The two companies have already set up two manufacturing units at Manesar (Haryana) with an investment of Rs.50 crore, while another Rs.100 crore would be invested in the next three years to boost production.

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