AgenciesZF GroupChennai: ZF Group, a leader in hydraulic and electrohydraulic braking systems, has drawn up plans to extend the local production of transmission and axles to serve domestic and overseas markets. The company’s facility in Coimbatore would further the ambition of ‘Make in India for the World’ and ‘Make in India for India’, ZF Group president Akash Passey said on Tuesday. ZF has made investments in a new plant in Coimbatore spread over 12,000 sq meters to cater to the domestic and export markets. The new plant together with the main hub in Germany will support the production capacity needed for the future market growth in the global construction equipment market, the statement said. “This new plant and localisation of transmissions and axles at our plant in Coimbatore will further our ambition of Make in India for the World and Make in India for India. This move makes us more agile in meeting customer expectations and enables our custo...

New Delhi: Motherson Sumi Systems, one of India’s largest automobile companies Recently, Daimler secured an order worth Rs 100 crore for the 1540. This will bring us closer to our cherished goal of achieving a targeted 30% consolidated revenue growth over the next five years. In the US. Under the agreement, the Noida-based company will set up two plants in these countries, one in the US and the other in Hungary, close to the German automobile giant’s manufacturing plants. Once production starts at these plants, other automakers will also receive orders. The increase in orders from the U.S. is part of Matherson’s strategy to reduce its overdependence on Europe. For the fiscal year ended March 31, 2014, the company had consolidated revenues of more than 50 of which 58% was $ 58% it was generated. 2014 North and South America accounted for 10% of fiscal 2014 sales and 14% of sales in the first nine months of fiscal 2015. “Over the past two years, we have been expl...

NEW DELHI: Pricolllll, an automotive components company, today announced a new product brand identity that aims to double its global revenues annually by 2020 and plans to enter new markets through acquisitions and development of new products. “Pricol It is India’s largest manufacturer of commercial vehicle governors and cab tilting devices and one of the world’s top 10 manufacturers of automotive sensors. Its goal is to double its global consolidated revenues annually by 2020.” The company reported revenues of Rs 11.5 billion for the financial year 2014-15. It aims to achieve sales of KRW 1.45 trillion by the end of this year. Pricol plans to expand its business globally, focusing on new regions and market segments. Pricol Vikram Mohan He said, “With this acquisition, Pricol we will focus on entering new markets and developing new product segments, which will be achieved through the focus of our team of more than 2755 globally renowned R&D enginee...