Minda KTSN Plastic Solutions Mexico, which manufactures interior components like gloveboxes and panel parts, will be supplying to key customer, the Volkswagen Group.
03 Apr 2017 | 12249 Views | By Autocar Professional Bureau
The Gurgaon-based Spark Minda, Ashok Minda Group has inaugurated its new manufacturing plant located at Queretaro Industrial Park, Mexico. Minda KTSN Plastic Solutions Mexico is a part of Minda KTSN Plastic Solutions, Germany (Minda KTSN) which was set up in 2007 to oversee the company’s European operations.
The greenfield ...
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The Gurgaon-based Spark Minda, Ashok Minda Group has inaugurated its new manufacturing plant located at Queretaro Industrial Park, Mexico. Minda KTSN Plastic Solutions Mexico is a part of Minda KTSN Plastic Solutions, Germany (Minda KTSN) which was set up in 2007 to oversee the company’s European operations.
The greenfield plant in Mexico specialises in manufacture of interior automotive components like gloveboxes and panel parts, will supply to key customer, the Volkswagen Group. The new facility at Queretaro, which is Minda KTSN’s fifth unit, has a total area of 8,500 square metres with a manpower strength of around 130 employees. The plant, which has an additional 5,000 square metres of space, is targeting annual sales of 450 Mio Pesos (US$ 24 Mio) from 2017-18 onwards.
Speaking at the inauguration, Ashok Minda, chairman and Group CEO, Spark Minda, Ashok Minda Group, said, “Our presence in Europe goes back to 2007 when Minda KTSN Plastic Solutions was acquired to oversee the European operations. The support we have received from all the stakeholders in Europe has encouraged us to start a manufacturing facility in the North American region. This investment shows the clear commitment of our Group to the expansion of our activities here in the region.”
N K Taneja, Group chief marketing officer, Spark Minda, Ashok Minda Group, said: “The new facility has been set up with intent to serve our customers through our advanced technologies and services. This will also further strengthen our strategic presence as we reach out to OEs to supply quality automotive components.”
Vinayak Hegde, CEO, Minda KTSN, said, “Queretaro today has emerged as a leading strategic commercial hub in the region, with world-class infrastructure and a highly competitive business environment. Our new facility will enable us to meet the fast-growing demand we anticipate in this region, even opening opportunities for us to export. The project has not only been completed on schedule but has also met all customer requirements. It has met the targets, using the best industry practices, in an environmentally friendly and socially responsible manner.”
Minda KTSN Plastic Solutions, Germany is a wholly owned subsidiary of Minda Corporation, the flagship company of Spark Minda, Ashok Minda Group. It produces high quality interior products such as gloveboxes, panel parts, storage boxes, cupholders, steering column covers, oil panels, cylinder heads and structure parts for the key clients like the Volkswagen Group, BMW and Daimler. Minda KTSN in Europe has state-of-the-art injection moulding, automated assemblies and internal tool manufacturing facilities.