India to be our 2nd biggest mkt in Asia by 2018: Mann+Hummel
"Going by the size of the market and our target, I would expect more facilities in future, may be one in the West (India). However, it will also depend on taxation structures like GST, because we do not know whether it will make sense to have plants at different locations at that point of time," Mann+Hummel Group President and CEO Alfred Weber said.
He, however, declined to share details saying nothing has been decided yet.
When asked about investment that the company is likely to make in India in future, Mann and Hummel Filter Managing Director Pradeep Randhawa said: "We will invest Rs 40-60 crore annually for the next two years to increase our capacities at this new plant. Beyond that, nothing is planned yet."
The company, which entered India in 2003, currently has another facility at Tumkur near Bangalore with an installed capacity of 10 lakh units annually. It has so far invested Rs 300 crore in India.
"The Bawal plant has been set up at an investment of Rs 120 crore. It has an installed capacity to roll out 20 lakh units every year that can be expanded to 40 lakh units depending on demand," Randhawa said, adding the new plant will mainly be supplying components to car market leader Maruti Suzuki and Suzuki Motorcycle.
Talking about sales expectations, he said
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