ArvinMeritor eyes 0 mln sales from India

New Delhi, Mar 29 (UNI) US-based auto components supplier ArvinMeritor expects to double its sales from India to 500 million dollars in two to three years from 250 million dollars in 2006.

Betting big on the commercial vehicles market, the company will also expand its technology centre in Bangalore and increase it headcount to 400-500 people by 2010 from the current strength of 200.

''We are developing our plans for India. Since we are finalising the details, specific investment numbers cannot be given,'' ArvinMeritor newly-appointed President for Asia Pacific Rakesh Sachdev told reporters here today.

ArvinMeritor aims to clock sales of over one billion dollars in Asia Pacific within five years with India contributing atleast half of this (500 million dollars) in the next three years, he added.

Besides sales, the company also targets to triple aftermarket sales and contribute another 100 billion dollars to its sourcing operation from Asia within five years.

ArvinMeritor, which has announced sale of its global emissions technology business for 310 million dollars, will use the proceedings of the sale for further expansion.

UNI