Sogefi Group, the Italian auto parts maker, plans to add new plant in India.
Sogefi aims at increasing by 5% the share of its Indian revenues in the following 5 years, from the current 1.2%.
“The consolidation of our presence in India and the new investments we plan to make in China will make Sogefi an increasingly global supplier able to provide manufacturers with the most advanced technologies in the main markets they operate in,” said Sogefi Chief Executive Emanuele Bosio in a statement.
On Wednesday, July 4th, Sogefi announced the opening of a new suspension components facility in Pune, India, and plans of doubling the size of its filter plant in the Bangalore area, owned together with its JV partner MNR. Until now Sogefi invested around 10 million euro in its three Indian plants, which employ over 500 people.
Sogefi, which is owned by CIR holding company, has 44 facilities in 16 countries. In 2011 the company’s total revenue was 1.6 billion euro, up 25.3% from last year. The new facility in Prune will supply Fiat, Tata, Piaggio and Mahindra.