INDIA BUSINESS WORLD - DECEMBER 1^st - DECEMBER 15^th - 2007

HERO MOTORS IN JOINT VENTURE WITH JAPAN'S KIRIU FOR AUTO PARTS PLANT

HERO Motors, part of the $4.3-billion Hero Group, is going global with aggressive plans in the automotive components space. The company entered into a joint-venture with Kiriu Corporation of Japan to manufacture automotive brake and knuckles of small cars for various original equipment manufacturers (OEMs). The Rs 240-crore facility-Munjal Kiriu Industries-will manufacture 4 to 5 million brake discs per annum by the year 2011-12 at Manesar in Haryana. Hero Motors MD Pankaj Munjal said, "This alliance will strengthen our technology base for high quality automotive manufacturing. Already discussions with various OEMs like Nissan, Maruti Suzuki, Toyota, General Motors and Honda are in progress to cater to the components needs of their future small cars. We will specialise the new facility for manufacturing small car components."