With the growing importance of India in the global automotive scheme of things, most global companies, be it vehicle manufacturers or component suppliers, are keen to have a footprint in India, which is currently the fourth largest automobile market in the world. Not only that, Make in India is proving to be a lucrative business for global majors to manufacture and export from India.
The latest global supplier to think on these lines is Germany’s Kamax Group, which is the market leader in the area of high-strength fasteners and a 100 percent supplier to the automotive industry.
Technologically, the Kamax Group is the world's leading manufacturer of high-strength fasteners and a competent partner for the development and production of complex cold-formed parts. The company has a 750 million euro turnover (Rs 5,863 crore), 3,500 employees at 12 locations worldwide, and produces 201,000 tons of steel per year which equals 3.5 billion fasteners and complex cold-formed parts. Seventy-two percent of its business comes from supplies to passenger vehicle OEMs and the rest from commercial vehicle manufacturers.
Now, in a bid to get closer to its customers in India and also to be more cost-competitive, the Kamax Group, which is exhibiting at Hall 11, Stall 91, at Auto Expo Components at Pragati Maidan, aims to localise its operations within a span of two years.
Kamax, which has been catering to the Indian market for over 10 years now, set up a sales office in Bangalore three years ago. Now clearly, it intends to further expand its presence in India with a local manufacturing operation. Stay tuned for more information.