Setco Automotive, the flagship company of the Setco Group, has announced the promotion of Udit Sheth from executive director to joint managing director with effect from July 15, 2015. The announcement was made in the Board of directors meeting held on July 15. 

Udit Sheth joined Setco Automotive, a Tier 1 supplier of clutches to all the prominent Indian commercial vehicle manufacturers, as executive director in 2002 when the annual turnover of the company was Rs 10 crore. Over the years, he has initiated a number of strategic initiatives that have driven business growth and led to an annual turnover of around Rs 500 crore.

Commenting on his new role in the company, Udit Sheth said, “Under the able guidance of our chairman and managing director Harish Sheth and the entire Board of directors, it will be my constant endeavour to usher in new ideas and processes into the company to ensure that we continue to remain on the same growth trajectory as of today.”

Currently, Setco Automotive is the largest producer of Medium & Heavy Commercial Vehicle (M&HCV) clutches in India and among the top three manufacturers in the world in terms of volume. The company  caters to approximately 85 percent of M&HCV clutch demand in India. It has four manufacturing facilities – two in India and one each in the UK and USA – with its corporate base in Mumbai, India.

While Setco’s major manufacturing is in Kalol, Gujarat, it has a fast expanding facility in Sitarganj, Uttarakhand. The company has set up a state-of-the-art R&D centre at Kalol, certified by the Department of Scientific Industrial and Research, government of India, to design, develop and validate full clutches systems. It also has an R&D centre in the UK.