Setco to spend Rs 150 crore in 4 years, plans Africa plant
Clutch maker Setco Automotive plans to spend Rs 150 crore over four years as it seeks to expand its capacity by 25% per year and tap new segments and new markets. The company is also planning to set up a clutch assembly facility in Africa to take advantage of the lack of organized players in that continent.
June 16, 2011 / 18:45 IST
Nachiket Kelkar
Moneycontrol.com
Clutch maker Setco Automotive plans to spend Rs 150 crore over four years as it seeks to expand its capacity and tap new segments and new markets. The company is also planning to set up a clutch assembly facility in Africa to take advantage of the lack of organized players in that continent."There are no clutch manufacturers in Africa. They are mostly imported from the US or other countries. So we are looking to set up an assembly unit in Africa. Currently we are in talks with a few people, we will need strong distributors if we have to expand there," Chairman and Managing Director Harish Sheth said.The company hopes a local assembly plant will give it advantage over its foreign rivals. However, the unit is unlikely to come up this fiscal year, said Vinay Shahane, the company
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
