ZF Friedrichshafen AG is to invest Rs 150 crore in a new integrated manufacturing facility in Chakan.
20 Mar 2014 | 5308 Views | By Sumantra B Barooah
ZF Friedrichshafen AG is to invest Rs 150 crore in a new integrated manufacturing facility in Chakan. With passenger car powertrain products to be a focus area, it is slated to be operational in Q1 of calendar year 2015 and will employ 350 people in the first phase. “We see ...
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ZF Friedrichshafen AG is to invest Rs 150 crore in a new integrated manufacturing facility in Chakan. With passenger car powertrain products to be a focus area, it is slated to be operational in Q1 of calendar year 2015 and will employ 350 people in the first phase. “We see strong growth potential in this area,” said Piyush Munot, managing director, ZF India, at a media meet in Pune today.
The new plant, spread over 150,000-160,000 square feet, will manufacture commercial vehicle transmissions, chassis components, powertrain components and also provide aftermarket services. The investment in the new unit reflects the company’s strategy to be more price-competitive in India. “We see around 20 percent growth in Asia-Pacific and around 10 percent globally,” said Rudi von Meister, president, Asia-Pacific, ZF.
During 2014, ZF has a capital expenditure plan of 84 million euros (Rs 713 crore) in the Asia-Pacific region. It is learnt that ZF earned 3 billion euros (Rs 25,488 crore) from the Asia-Pacific market out of its total 17 billion euro (Rs 144,432 crore) sales in calendar year 2013.