JBM to enter bus business in India by 2012-13
September 6th, 2011 - 7:45 pm ICT by IANSNew Delhi, Sep 6 (IANS) Auto component major JBM Group Tuesday said that it will foray into the bus manufacturing business in the country by the next fiscal.
“By the end of this fiscal, we will be in an alliance with an international partner for the bus business in India,” Nishant Arya, executive director, JBM Group told reporters at the sidelines of an Automotive Component Manufacturers Association (ACMA) event here.
According to Arya, the alliance for manufacturing buses may be formed with a European firm. The financial details and other plans would only be decided after the alliance is formed, he said.
Arya said that the group would be investing about Rs.500 crore in its component business driven three companies — Neel Metals, JBM Auto Systems and Jay Bharat Maruti — its joint-venture (JV) with Maruti Suzuki.
“We will invest Rs.500 crore this fiscal to set-up three new plants in Chennai, Pant Nagar and Sanand and expand capacity at our Pune, Gurgaon and Faridabad plants,” Arya said.
The company’s expansion plan envisages raising its component manufacturing capacity of one million per day to 1.2 million per day.
The company also expects its turover to grow to Rs.6,500 crore this fiscal from Rs.4,500 crores ($1 billion) in 2010-11.
- Shree Ganesh Jewellery in JV with Italian firm for Rs.100 cr plant - Oct 28, 2011
- Lumax investing Rs.150 crore on new plants, capacity - Sep 06, 2011
- South India now prime hub for auto components, say experts - Feb 08, 2011
- Maruti plans 10 lakh capacity plant in Gujarat - May 31, 2011
- H&R; Johnson pumps in Rs.225 crore in Andhra unit - May 18, 2012
- Maruti Suzuki cars to cost more - Jan 05, 2012
- Birla Corp eyes 3 percent rise in cement sales - Oct 24, 2011
- Maruti strike continues for sixth day, production hit - Oct 12, 2011
- Auto component industry to grow by 12-15 percent in 2011-12 - Aug 30, 2011
- Hero Motors' to launch new products during Indian F1 - Sep 02, 2011
- Mega-launches, big-ticket announcements at Delhi Auto Expo - Jan 03, 2012
- Lumax to invest Rs.200 crore to set up two plants - Aug 27, 2010
- JK Group to invest Rs.1,300 crore in power sector foray - Apr 19, 2011
- Toyota Kirloskar to roll out more cars, components - Jul 27, 2011
- Ashok Minda Group acquires Germany's Aksys Koengen - Oct 05, 2010
Tags: acma, auto systems, bharat, bus business, component business, component manufacturers, component manufacturing, crore, expansion plan, faridabad, financial details, gurgaon, international partner, manufacturers association, manufacturing business, maruti suzuki, nishant, pant nagar, rs 500, rs 6