INDIA BUSINESS WORLD - March 16th - March 31th - 2008
BANGALORE’S NTTF INDUSTRIES (NTTFIL) AND GERMANY’S KOSTAL GROUP IN RS100-CR AUTO PARTS JV
NTTF Industries (NTTFIL), a fully-owned company of Bangalore-based Nettur Technical Training Foundation (NTTF), has entered into a Rs100-crore joint-venture with Germany’s € 1.3-billion Kostal Group to manufacture high-end automotive products.
The German group, which operates from 26 locations in 14 countries around the globe, will produce multiple applications products like airbag enabled steering sensors, switches for car panels and power window regulator for high-end cars. It is already one of the largest original equipment suppliers to European automobile giants like Mercedes-Benz, BMW and Volkswagen.
The new facility is likely to be operational late this year and the company is aiming an annual turnover of Rs 200 crore by next year.
NTTF Industries director (technical) K S Ramaprasad said: “Through this joint-venture, we plan to establish capabilities to design, manufacture and supply automotive electrical switches and controls of international standard. We will initially cater to European car manufacturers like Volkswagen, BMW, Mercedes Benz and Renault, who have started manufacturing in India.”
“We are also looking at improving our technology in the current plants in Bangalore and Vellore in Tamilnadu, and provide NTTF’s customers with improved worldclass products. We shall also be looking at the global markets and aim to export 20%-30% of our new products,” he added. These new products will also be supplied to the new generation cars of Tata Motors, Maruti Suzuki and Mahindra and Mahindra, who are already in the NTTFIL customers’ list.
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