Makers of steel wheels for all types of vehicles and construction gear, Wheels India, would be investing over Rs 70 crore this year with an aim to expand its exports segment.
The company Managing Director Srivats Ram told PTI here today that a significant part of the investment would be for expansion of its presence in the exports market. The company has manufacturing plants at Padi and Sriperumbudur in Tamil Nadu, Pune, Rampur, Bawal, and Pantnagar with a combined overall annual capacity of 15 million wheels, he said.
He said while over 80% of the company's business came from domestic market, the company exports wheels for off-road construction equipments and agricultural applications to Japan, Korea, US, Brazil, Belgium, South Africa, China and Indonesia. Earlier this fiscal, Wheels India entered into a technical agreement with Topy Industries, a leading Japanese steel wheel manufacturer, towards process, design and development of steel passenger car wheels.
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