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DellOrto an Italian component maker, has signed a joint venture agreement with Bharat Caprihan and Associates, promoters of Eco Auto Components Ltd(EACL),which was earlier known as Escorts Auto Components Ltd and originally established by Escorts Ltd in 1971.DellOrto has also picked up a 10% stake in EACL.Speaking to the media, EACL marketing director ,Bharat Caprihan said, "As per the agreement DellOrto will hold 74% stake in the new company, DellOrto India Pvt Ltd (DIPL),while the Indian partner will have 26% stake."DellOrto, which supplies carburettors, oil pumps and fuel injection system to leading auto companies of the including Ferari,Renault,BMW,Fiat,Honda,and Lamborghini is claimed to be looking at making India its manufacturing hub.Caprihan added, "Their plan is to shift manufacturing form Italy to India in due course of time."Speaking about the new joint venture company,DIPL,Caprihan is known to have said that it would have a working capital of Rs 4 crores,and would be investing about Rs 6 crore in the next two years for making a new assembly line at EACLs facility in at Faridabad. |
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| Posted : 12/17/2005 |
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