BPIL to invest Rs 28 cr to set up Al radiator facility
New Delhi, Apr 5 (UNI) Banco Proucts India Ltd (BPIL) is planning to invest Rs 28 crore during the financial year 2005-06, for setting up a new Al radiator facility for exports and adding a new Al radiator line to its existng facility.
The company, the second largest gasket manufacturer in the country, is also setting up an Export Oriented Unit for radiators at an estimated cost of Rs 20 crore, which would result in doubling of its Al radiator capacity to 1.2 millon units by this year.
BPIL has also tied up with a leading Tier I supplier of auto component in Europe for supplies of Original Equipment Manufacturer (OEM) spares, which is a new development for the company since its exports were mainly to the aftermarket.
The radiator business of the company has been the key growth driver over the last couple of years, which registered revenues to Rs 71.4 crore in 2004-05.
In 2004-05, Al radiator exports, which doubled over the previous year to Rs 17.8 crore, are expected to emerge as a key driver of the company's long term prospects.
In Q1 2005-06, BPIL recorded moderate growth in its net revenues that grew by 8.7 per cent to Rs 34.8 crore in comparision to the corresponding quarter previous year.
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