Auto Components maker Jamna Auto Industries Monday said it has earmarked a capex of Rs 600 crore over the next 3-4 years to enhance production capacity for various products, including parabolic springs and axles.
The company, which Monday inked a pact with UK-based Tinsley Bridge Limited (TBL) for technology transfer, also plans to introduce two new products -- stabilizer bars and U-bolts as part of the product expansion plan.
The capex will be funded through internal accruals, Jamna Auto said in a statement.
The company has nine manufacturing plants across the country located near major commercial vehicle hubs and has also announced setting up of two new facilities in Indore (Madhya Pradesh) and Adityapur (near Jamshedpur).
TBL will transfer its Extralite Spring and Special Steel Technologies to Jamna Auto as part of the agreement.
"Technology is going to be the key differentiator and will allow us to maintain our leadership position in the market. These technology products would bring in significant improvement in our customer's products," Jamna Auto MD & CEO Pradeep Singh Jauhar said.
The introduction of BS VI emission norms with effect from April 1, 2020 comes with a challenge for the manufacturers to compensate the increased engine weight.
The Extralite Spring and Special Steel Technologies will provide access to lighter and stronger springs that will bring down the weight of the vehicle, thereby increasing the load carrying capacity of the vehicle, Jamna Auto said.
Shares of Jamna Auto were trading 1.81 per cent up at Rs 81.70 apiece on the BSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
First Published: Mon, September 17 2018. 15:40 IST
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