Ruia preparing for further growth in automotive sector
It may be currently copping flak over its Dunlop India tyre plant in Sahaganj, West Bengal, yet the Ruia Group seems to be going from strength to strength in another area of the automotive industry. Having snapped up five European vehicle seal manufacturers since 2008, the Indian company is now erecting a Rs 1.1 billion (£14.7 million) greenfield seal manufacturing plant in Pune, Maharashtra state and has plans to establish another in India.
“Since our tyre business was matching well with the sealing systems sector, we had good understanding, and so we thought it would be best for us,” company chairman Pawan K. Ruia told the Indo-Asian News Service. “When we become the global leader in this field we will have 22-23 per cent share in the international market. Once the Pune plant starts production, some time around May-June next year, we will have six sealing companies worldwide under our belt.”
Ruia says the Group first saw the potential in automotive seals after purchasing UK company Schlegel Automotive. “After acquiring our first plant in Britain we started looking at increasing the volume,” Ruia told IANS. “So we kept our eyes open on each and every opportunity and, fortunately for us, one after another companies started coming in.” After purchasing Schlegel and companies in Germany and Turkey, the Indian group now has its eyes on Africa; Pawan Ruia says this region is “in focus” and the Ruia Group “is certainly going to spend a major amount of money in Africa across industries.” He added that “Africa as a continent is exploding, and will explode further.
“Certainly we are looking at more opportunities in sealing systems,” Ruia added. “We will acquire more companies, consolidate and take our position to the top globally.”
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