Firestone Industrial Products sets up strategic business unit in India

Firestone Industrial Products, a leading manufacturer of air spring, is expanding the company’s presence in the Asia-Pacific market with the establishment of a strategic business unit (SBU), headquartered in Gurgaon, India.

"In the last two decades, Firestone Industrial Products has made significant contributions to the Asia-Pacific air springs market,” said Arun Kumar, managing director, Firestone Industrial Products Asia. “Establishing an enhanced presence with the SBU is a testimony of our continued commitment to serve and strengthen these growing markets on a local level.”

Currently the SBU oversees the operation of two companies — Beijing Firestone, China, and Firestone TVS, India, a joint venture since 2007. The SBU facilitates product distribution in Australia, South Korea, Hong Kong, Thailand, Malaysia, Indonesia, Taiwan, Singapore, Philippines and Vietnam. The office also is home to the region’s sales, marketing, engineering, customer service and finance teams.

“India and China are two of the fastest-growing economies in the world, playing a dominant role in the Asian market,” added Kumar. “India’s deep-rooted banking, legal and corporate structures make it an ideal home for our Asia-Pacific headquarters.”

Firestone Industrial Products entered the Asia and India air spring markets in 1990 and 1992 respectively. In 2006, the company established a branch office in Gurgaon, and in 2008 Firestone TVS began manufacturing air springs in Madurai, India. The following year, Firestone Industrial Products opened a distribution center in Singapore.