Sabo-Hema Automotive Pvt. Ltd., a new joint venture between Hema Engineering Industries Ltd. (HEIL) and Sabo of Italy, has set up a manufacturing facility with an investment of Rs. 23 crore in Gurgaon to manufacture shock absorbers for commercial vehicles. The installed capacity of this plant will be 2.5-lakh shock absorbers. The company also plans to set up a new unit in Chennai.
HEIL Managing Director Chandresh Jajoo said both companies were well-positioned to develop a brand image that could create value among commercial vehicle companies. The new joint venture would prove to put forward safe and competitive offerings to customers.
Reiterating on the commitment to the domestic market, Mr. Jajoo said: “The commercial vehicle market in India is growing at a tremendous pace. To meet this demand, we plan to set-up another manufacturing facility in Chennai. This facility will be operational by 2012. Based on our extensive marketing and operating activities, we aim to capture 25 per cent of the component’s market in the commercial vehicle segment.”
According to Sabo’s General Manger Massimo Nuti, “India is a strong market for us that pose huge potential. Our association with HEIL will give us the desired start in the Indian region.”
