Component maker Sandhar Technologies will be inking a joint venture with Han-Sung IMP of South Korea to make plastic injection mouldings, switches and high precision press parts.
04 Feb 2014 | 5998 Views | By Shobha Mathur
Component maker Sandhar Technologies will be inking a joint venture with Han-Sung IMP of South Korea to make plastic injection mouldings, switches and high precision press parts. These high-precision parts will be used for relays by the automotive industry and also cater to the electrical and consumer electronics industry.
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Component maker Sandhar Technologies will be inking a joint venture with Han-Sung IMP of South Korea to make plastic injection mouldings, switches and high precision press parts. These high-precision parts will be used for relays by the automotive industry and also cater to the electrical and consumer electronics industry.
The 50:50 JV will be based at Gurgaon where a manufacturing plant will be set up with an investment of US$ 5 million, to be shared equally by the partners. The facility will go on stream by end-2014. According to a company official, the JV company will be a Tier 2 supplier to Tier 1s for these high-precision products and is already in discussions with prospective customers for the new products.
The JV company is expected to target a $ 50 million turnover within a couple of years with the South Korean supplier bringing to the table its technological expertise and Sandhar providing its customer base and marketing network.
Last year, Sandhar had entered into a technical collaboration with Jinyoung Electro-Mechanics Company Ltd (JEM Techno) of South Korea for manufacturing automotive relays for the Indian market and followed it up with another technical tie-up with Lyssen Enterprises Co. Ltd of Taiwan. This collaboration was for manufacturing instrument clusters, case gauges and senders.
The $ 300 million-plus Sandhar Group has 25 manufacturing plants with subsidiaries in Spain and Poland. Sandhar manufactures lock kits, mirrors, handles, latches, hinges, stamped and tubular components, zinc and aluminium pressure die castings, operator cabins, canopies, housings, panels, switchboards, control cabinets, moulds, dies and structural parts for off highway vehicles. It also has a separate vertical which focuses on supplies of steel wheel rims and assemblies, handlebars, clutch and brake panels to the two-wheeler manufacturers.