Hero Motors plans foray into 4-wheeler component biz

RELATED NEWS Below Rs 670, further downside in Hero Honda See 10% sales growth in 2-wheelers: Anand Rathi Hero Honda May 2-wheeler sales at 2.85 lakh units Hero Honda reports impressive topline growth in FY 2006-07 Hero Honda net profit seen at 190.5 cr: India Infoline Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

New Delhi June 11

Hero Motors Ltd is looking to supply auto components to carmakers in the domestic and the overseas market.

This follows its joint venture agreement signed last week with Kiriu Corporation, a subsidiary of Japan based Sumitomo Corporation to manufacture disc brakes and drum knuckles.

"With the technology know-how of Kiriu Corporation, we are looking to supply brake discs and knuckles to major players like General Motors, Suzuki, Toyota, Nissan, Mahindra amongst others," said Mr Rajesh Gulati, Chief Financial Officer, Hero Motors Ltd.

He said the company was close to supplying about one million discs to General Motors and expected to finalise deals with other major players over the coming two-three months. Further, he added that the company was also talking to global players such as Continental AG, Valeo and Bosch to supply its disc brakes.

contd on page 2...