Who does the new JV cater to?
The new unit will be set up at our new site in Kakalur and will go on stream by August 2009. MDI, which had a turnover of $12 million last year, has two facilities in Chicago and produces a wide variety of rubber components which find application in the automotive, medical, electronics and oil exploration industries. When the new facility is set up, we will produce components for our partner’s North American market as well as support its customers in India and South East Asia. MDI will transfer the required technology for the manufacture of these components in India. The main objective of this JV is to produce high-technology components at a low price for all MDI customers in North America, India and South East Asia.
What is MRF Autorub’s year-on-year growth?
We have a year-on-year growth of 20 percent. What’s more, during the course of the year, we have added new clients like Kirloskar Oil Engines, Greaves Engine, AMW, and Fleetguard in India. We are also exporting silicon hoses to the US, the UAE and Europe. The new unit is spread over 25,000 square feet which should be adequate for the next two years. We are also getting additional land allotted from SIDCO Kakalur for future expansion projects.