Honda Siel’s power products unit shifts plantAugust 29th, 2008 - 7:03 pm ICT by IANS
New Delhi, Aug 29 (IANS) The Rs.250-crore ($62.5 million) Honda Siel Power Products (HSPP), which manufactures generators, water pumping sets and general purpose engines, has moved its component manufacturing facility from Uttarakhand to Greater Noida near Delhi.The relocation, announced last August, is aimed at consolidating operations and ensuring economies of scale.
HSPP started manufacturing machine components in Uttarakhand in 1988 after the state offered economic benefits, which elapsed after eight years.
“To save costs, it was better to shift component making to Greater Noida,” HSPP senior general manager (corporate) R.P. Mehrotra had said last year.
HSPP, formerly known as Shriram Honda Power Equipment Ltd, is a joint venture between Japan’s Honda Motor Co. and Siel Ltd, with Honda holding a 67 percent stake in the company.