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Investment Bells Ring in Chennai!

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Galipoglu Hidromas from Turkey, a leading manufacturer of hydraulic telescopic cylinders , pumps, valves, power take off and other kits for commercial vehicles, is all set to open its facility at Mahindra world city SEZ at Maramalai nagar near Chennai . It is the first major investment from Turkey and the company's first facility outside the country.

Galipoglu Hidromas’ promoter and chairman , Mehmet Yasar GUL and his son and director, Talip GUL infrmed the media. They said, the choice of selecting the site near Chennai was because of its proximity to the two major ports ( Chennai and Ennore) and due to the fine infrastructure.

The company is set to commission the plant in February 2011 with an initial investment of Rs 16 crore funded fully through equity. It will have a capacity to produce 2000 hydraulic telescopic cylinders per month in one shift. It will start with producing 400 cylinders per month.

At full capacity in the first year, the plant is expected to achieve a turnover of Rs 24 to Rs 25 crore. Initial import content will be 70% as it has to source steel tubes with correct dia meters from Italy and South Korea.

Mr Talip GUL, who is steering the Indian operations, said the entry of global auto majors and the robust growth of tippers and trailers' segment have opened up a big market for hydraulic cylinders, piston pumps, valves, oil tanks, gear pumps and other hydraulic tool kits.

In India, for the last two years, Hidromas has been supplying hydraulic systems to Asia Motor works ,the latest entrant to the CV industry and having its facility at Bhuj in Maharashtra.

Besides AWM, Hidromas is targeting other major OEMs like Tata Motors , Ashok Leyland , Daimler ( which is setting up its truck facility near Chennai), Volvo, Mahindra & Mahindra, Man Force Truck and Kamaz Trucks, Russia which has assembly plant at Hosur. It will have service points at six major cities to cover the Indian market.

Mr GUL said it will also use the Indian plant for exporting 30% of production to countries like Malaysia, Singapore, Taiwan, Italy, South Korea and other markets. The company also wants to contribute to community development and is scouting for land promote a school for the under privileged.

Source: Agencies

Last Updated ( Monday, 03 January 2011 14:12 )  

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