Kalyani Forge to Invest $200 Million in Facilities
India’s Kalyani Forge announced plans to invest about $200 million during the next several years to upgrade its manufacturing facilities and integrate new technologies into its production processes. With three manufacturing facilities in Pune, the company is investing in technologies that will enable it to increase export revenues to around 40% of its total revenue – up from the current 25-30%. Kalyani Forge receives 70% of its revenue from the vertical auto industry.
“We have made provisions to invest ($200 million) in new technologies and upgrading our facilities over the next three to five years,” said Director Viraj Kalyani. “We are getting lot of interest from customers based in Europe and the US. We have also opened an office in Europe to look out for business. We plan to increase supply of engine components, drive lines and other components to markets in these two continents.”