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Sona Koyo Steering Systems has plans of big expansion, which includes incorporation of three million pieces of manual steering gears, 5,00,000 units of hydraulic power steering systems, and 2,50,000 units of electronic power steering (EPS), apart from doubling the capacity of steering columns from one million parts. To be precise, Sona Koyo steering system would invest Rs 400 crore to expand capacity over the next few years and achieve a turnover of Rs 1,000 crore by 2010. Even as it is aggressively increasing installed capacity, Sona Koyo is stepping up its focus on foreign markets for growth. The company has also changed its logo to reflect the changing focus. As part of the groups globalisation strategy and to offer more efficient services, the group has incorporated a company called Sona AutoComp Inc in the US. The new company would serve as the sales hub for its US-based clients. Sona Koyo is targeting Rs 300 crore through exports by 2010 from Rs 50 crore in fiscal 2005-06. The company is also looking at exporting components such as aluminium castings and stampings. For this, it is scouting for a new facility in India, preferably in an SEZ. |
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| Posted : 4/26/2006 |
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