Escorts to spend Rs 25 cr in new plant at Uttaranchal

New Delhi, Sept 13 (UNI) Tractor and motorcycle maker Escorts Ltd today announced it is setting up a manufacturing facility at Integrated Industrial Estate, Pantnagar at an investment of Rs 25 crore.

It will manufacture auto components and railway equipment and add to its existing product portfolio.

''Considering the ample scope for volume growth in both the sectors, we have been aiming to further leverage our manufacturing strengths. As part of our growth strategy, we would like to have a much greater contribution from these segments in our operations,'' Escorts Ltd Executive Director Nikhil Nanda said today.

In the auto component sector the company has planned to significantly widen its product portfolio. It is also actively considering new partners and new export markets for auto components, he added.

In railway equipment, the company is foraying into the manufacture of a range of new products for emerging segments like metros and new technology rolling stocks.

The existing product offerings of the company in auto components include shock absorbers, telescopic front forks and McPherson struts. In railway equipment it is mainly into the manufacture of shock absorbers for rolling stock, couplers for Sub-urban and mainline EMU trains, braking systems and composite brake blocks.

These are currently being manufactured in the facilities of the company in Faridabad, Haryana.

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