Bright Brothers scouts for new global alliances
Design solutions and new technology are among the top priorities.
The second international tie-up is meant to bring in newer technology which can provide customers with a higher level of product. At present, Bright Brothers uses only plastic technology, whether it is injection moulding, vacuum forming, PU foaming, welding or painting. "Our aim is to look for strategic partners to help our domestic business so that we can be a supplier of components not only of the type which we are making today but also of a type where our existing technology will be used along with the technology of our strategic partners. Adding the two will give a higher level of product to a customer," Advani said.
The company is open to all avenues to form a strategic alliance that could give a front end to the business in markets like Japan or Europe. Forming these tie-ups is part of its strategy to also help achieve its objective stated in 2004-05 to double its automotive turnover by 2007-08. In 2004-05, automotive business at Rs79 crore accounted for 53 percent of turnover, going up to Rs 96 crore in 2005-06.
Bright Brothers set this target based on horizontal growth as it worked out four-wheelers to expand by 10-18 percent each year in the run up to 2008. It also foresaw horizontal growth of its customers, especially Maruti and Hyundai. In the case of Maruti, the company participated in the Omni and Swift last year. It also supplies interior and exterior components for the Maruti 800, Zen, Alto and WagonR out of its plant in Sohna near Delhi. Bright Brothers will also be involved with Maruti's upcoming models.
The company set up a new plant in Sriperumbudur, Chennai in April this year to be close to Hyundai. It supplies interiors to the Santro and Getz models and will also meet the needs of new models in the Accent and Santro category. Bright Brothers has relocated its Tarapur and Thane facilities near Pune to serve Tata Motors. It is, however, not involved with Tata's Rs 1-lakh car project. More recently, the company added Mahindra & Mahindra to its list of customers. It worked on the Scorpio refresh and is now involved in another Mahindra refresh slated for launch by September as well as others to follow.
On two-wheelers, Bright Brothers supplies parts to Honda Motorcycle & Scooter India and Kinetic. These include cover fronts, cover handle fronts, cover body parts, panel floors, fenders and seat bases. It expects growth to come from Kinetic's joint venture with Taiwanese company SangYang Motors. Presently, there are no direct exports from Bright Brothers. Its components however go to overseas markets through customers like Hyundai. "We would like to be a direct exporter and have been in discussions with potential customers over the last few months," Advani said. Initially, the company expects its exports to come from Tier 1 suppliers of its customers.
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