Bangalore, Nov 13 (UNI) City-based MNR Filters today entered into a tie up with Italy based Sogefi SPA, a world leader in automobile fuel, oil and air filtration products, to expand their product portfolio to utilise existing and new opportunities in India and abroad.
Talking to newspersons here, Sogefi CEO Emanuele Bosio said India had demonstrated its potential for growth in recent years and Sogefi was bullish on India for the long term.
''Already India is the second largest diesel fuel market after Europe and we expect India's dominance in this area to only grow.
We will offer our world class products in diesel filter technology in India through MNR.'' ''Our state-of-the-art technology and manufacturing and MNR's design and innovation capability will help us strengthen our dominant position in the original equipment maker (OEM) and original equipment service (OES) market,'' he said.
MNR Chief Executive Officer, Narayan Manepally said the tie up would help the company boost its technologies and the joint venture would help to serve Sogefi's worldwide auto majors, who had entered the Indian market.
''Our low cost structure will allow us to grow our exports to Sogefi's customers worldwide,'' he added.
The joint venture would be christened Sogefi-MNR (India) Pvt Ltd and it was expected to grow at double digit growth for the first five years, he said adding production of the new products under the joint venture would be undertaken at MNR's two facilities in the city.
UNI RS AKM 1845