Neemrana, Rajasthan, Aug 21 (UNI) In its maiden entry into the Indian market, Japanese auto component maker Nissin today said it will invest Rs 64 crore to set up a manufacturing plant that would produce brake systems for Honda motorcycles and cars.
To be called Nissin Brake India Pvt Ltd, the manufacturing plant would be operational by October 2008, and will set a target of Rs 80 crore sales by 2010.
The plant to be erected by a tie up between Rajasthan State Industrial Development&Investment Corporation Ltd (RIICO), it will manufacture brakes and ABS exclusively for Honda Siel Cars India (HSCI) and Honda Motorcycles&Scooters India Ltd.
''At present we don't have any plans to supply for other two-wheeler and car manufacturers, but in future we might sell our products to other companies as well,'' company Representative President Akihiro Kubo told UNI at the ground beaking ceremony of the plant here.
A subsidiary of Nissin Kogyo Co Ltd, Japan, the company will make products for A, B and C segment cars and two-wheelers' of 100cc onwards, he said.
Asked about any export plans, Mr Akihiro said, ''Currently, we have no such plans and will concentrate on manufacturing components only for the domestic market. We are already present in 11 countries with 14 manufacturing plants all over the world.'' To manufacture these components, Nissin will import the mother machines from Japan and will compete with its rivals like Caparo Fasteners, Climate System, Federal Mogul, Goetze, Hi-Tech Gear, Ocap Chassis, Amtek India, Balkrishan Tyres and Continental Engines, amongst others who are already present in the state.
Spread over a land of 30 acres, Nissin will employ around 60 people initially and may increase headcount with the development of the plant.
Major product range of the company includes Disc Brake Front, Anti Lock Brake System, Master Cylinder and Master Power, Disc Brake (Rear) Aluminum Knuckle Rear, Creep Aid Systems, Sensor, Proportioning Valve, Clutch Master Cylinder.