Steelbird to manufacture 44,500 helmets per day: Announces Rs 150 crore investment

Steelbird has bought 15600 square meters of new land adjoining to the existing plants. With an investment of over 150 Crores, the plant will be equipped with the sector’s latest technology. The plants will have an average production capacity of manufacturing 44.500 helmets a day.

By: | Updated: June 25, 2019 5:26 PM

Steelbird Hi-tech India Limited is set to expand its manufacturing capacity with the expansion of its state of the art plant in Baddi. The company has announced that it will soon be manufacturing 44,500 helmets per day. Steelbird says that the expansion will help meet the growing market demand of helmets and add to the company’s growth story which is growing at 22% CAGR. Steelbird has bought 15600 square meters of new land adjoining to the existing plants. With an investment of over 150 Crores, the plant will be equipped with the sector’s latest technology and will help the company to expand its product portfolio and add more models to the existing one.

Also, it plans to cover the entire spectrum of customers from low to premium. The plants will have soon have a total of 6,00,000 Lac square feet built-up area and are expected to be ready by August 2019. The plants will have an average production capacity of manufacturing 44.500 helmets a day and will add nearly 2500 new jobs in the Baddi Himachal Pradesh region.

Commenting on the expansion of the Baddi plant, Mr. Rajeev Kapur, MD, Steelbird Helmets, said Steelbird is investing in the plant considering 300 thousand people are dying on the road in the country as per reports by WHO; but according to Steelbird, over one million people die in the road accidents because in many of the states and districts in our country, there is no traffic police & many of the accidents are not reported. If we check the data with the insurance companies, the data is much more.

He added that the Government of India & the ministry are doing a lot of work towards road safety. Road safety has become a very important concern in the country because so many fatalities are occurring and the government is putting a lot of efforts to save human lives. And this move is in sync with the government’s effort to save lives.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop