Bangalore, Aug 29 (UNI) Minda Industries Ltd (MIL), the listed arm of the Rs.1000 crore NK Minda Group, today announced the opening of its latest factory at Bidadi on the outskirts of the city for the manufacture of Blow Moulding Parts.
The facility has been set up in technical collaboration with Kyoraku, Indonesia to supply blow moulded plastic parts to OEMs including Toyota, a company release said today.
MIL would invest a total of Rs.25 crore in the facility, out of which Rs.10 crore had already been invested. The company is targeting Rs.50 Crore topline from this venture in the next few years.
In his reaction Nakagawa, Managing Director, Toyota Kirloskar Motors assured Toyota's full support to this venture. "I expect the world to soon recognise India's prowess as one of the automobile manufacturing hubs, he said".
Nirmal K Minda, Managing Director, Minda Industries said the new facility was a conscious effort on our part to add value added products to our product portfolio and blow moulding parts was the latest addition to this.
The factory has come up in a two acre plot with 40,000 sq. ft. of covered area. The installed capacity of the plant is 6,00,000 parts per annum.
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