New Delhi, February 7, 2013: Elofic Industries (Foyer Area 10 & 12/ Booth No. 22), which is exhibiting filters and lubricants for all vehicle segments ranging from two-wheelers to earthmoving equipment, has revealed plans to set up a new plant in Faridabad by 2014.
Speaking to Autocar Professional, K D Sahni, joint managing director, and M B Sahni, managing director (pictured), said the company is currently implementing a two-year Rs 25 crore investment plan which began last year.
They added that Elofic is also exploring setting up a new plant in Gujarat. While the land finalisation is slated to happen over the next six months, the plant will go on stream within the next five years. For Elofic, which exports 30 percent of its production to the US, Gujarat with its Mundhra Port is a suitable site for a new production facility.
The company’s growth strategy banks on new product development. It is currently working on developing a new technology for filters and also targeting more work for OEMs at its in-house R&D centre. Elofic has targeted a turnover of Rs 1,200 crore by 2017.
Commenting on the ongoing ACMA Automechanika trade fair,
K D Sahni said that the show will benefit participants in terms of huge promotion to their business and brand. Besides, it will provide a common platform to meet clients and exhibit new products. “We look at it as an excellent opportunity to learn about the latest developments on ideas and technologies of the industry.”
SHOBHA MATHUR