Tuesday, 6 September 2011

JBM Group in talks with foreign players for bus manufacturing




Auto Component maker Jay Bharat Maruti has not stopped its expansion plans neither its acquisition plans despite the slowdown in the Global economy and neither due to an ongoing strike at its principal customer.

The company today revealed that it will join hands with a foreign partner to roll out the product from a new facility to be set up either in North or West India.
"We are working on the bus project and are in discussions with big companies for forming an alliance. We will forge this alliance by the end of this fiscal," JBM Group Executive Director Nishant Arya said on the sidelines of the Automotive Component Manufacturers Association (ACMA) summit here. 

The company is likely to form the alliance with a European firm, he added. 
Besides the alliance, the company is keen on investment front and is investing Rs 500 Crore this fiscal in setting up new plants at Chennai, Sanand and Pant Nagar whereas it will also expand its current capacity at prevailing Pune, Gurgaon and Faridabad plants.
The company also told that its capacity after expansion will reach at 1.2 million parts per day from existing 1.0 million parts per day.

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