Steelbird International has announced setting up manufacturing operations outside India, with a formalized Joint Venture with TVS Auto Bangladesh to manufacture automotive filters.
Steelbird manufactures air filters, oil filters, fuel filters, and Cabin filters, having established its first automotive filters plant in North India in 1964. The newest collaboration underlines the coming together of two brands, Steelbird and TVS, the former poised to start manufacturing in Bangladesh to cater to the expanding aftermarket and OEM segment, while the latter with all the experience of the market and consumers in that region will facilitate the go-to-market strategy, protocols, channel management, retail and OEM growth in Bangladesh.
Steelbird today markets auto filters to German OEMs, the product holding a proud 45% share in the overall portfolio, with proven expertise in research, design, manufacturing, marketing and innovation, coupled with an enviable portfolio of OEM customers in India and overseas as well as brand presence in over 15 countries worldwide.
Manav Kapur, Executive Director, Steelbird International, said, “Today we have made a breakthrough with the signing of the Joint Venture with TVS Auto. Both JV partners Steelbird and TVS share unconditional corporate value systems and are like-minded in their commitment to product quality, customer safety & satisfaction, delivery and strength of the product width and depth.”
“We have decades of expertise in manufacturing Air Filters, Oil Filters, Fuel Filters and Cabin Filters, which we have now expanded to the emerging Bangladesh economy and market”, added, Manav Kapur.
On this occasion, J Ekram Hussain, Managing Director, TVS Auto Bangladesh Ltd, said, “We are delighted to start this new venture with Steelbird, the leading automotive component manufacturing company of South Asia. This JV will be the first collaboration in this sector and definitely, it has a huge potential considering automotive industrialization as a localized auto component and quality concern of our vehicle users. We will work very closely and look forward to bringing this world-class product to Bangladesh market very soon”
The exhaustive range of auto filters will be manufactured for all types of automobiles – 2-wheelers, 3-wheelers, passenger cars, tractors and commercial vehicles.
Bangladesh has been among the fastest-growing economies in the world over the past decade, supported by a demographic dividend, strong ready-made garment (RMG) exports, and stable macroeconomic conditions. The growth of the automobile industry has steadily increased due to the socio-economic development and purchasing power of the middle and upper-middle class of the country.
Kapur added, “I would say Steelbird as a company is now in the right company of TVS Auto Bangladesh; in a promising market that should result in a win-win scenario for both seller and buyer.”