A state of art manufacturing facility by the Gestamp Corporation was inaugurated in Chakan near Pune. Gestamp Corporation, a leading world player in automobile components, steel services and renewable energy; inaugurated the investment named, Gestamp Automotive India in the state. This plant becomes their first wholly owned facility in the country and is aimed at manufacturing metal components and structural systems for the large and burgeoning Indian Automotive market segment.
This new facility comes in the wake of the company’s expansion strategy having already established business in over 18 countries globally. The company has 57 production and 13 Research and Development centers worldwide. The company’s sixth investment in Maharashtra and the eighth in India, is spread over 110,000m² and a built up area of 44,000m², and is estimated to be worth €82.5 million.
The planning of the investment is based on the fully integrated facility design that covers the whole automobile making procedure; from the conception of products, body components, paint, general assembly and the final aggregates concurrently. The newly inaugurated plant brings Maharashtra Gestamp’s prowess, quality and standards in the manufacturing industry and is expected to incorporate innovative products and systems that satisfy the future needs of the automobile industry.
Aspects such as enhanced comfort, reduced exhaust gas emissions and enhanced safety systems, all of which the company has global reputation for, will greatly benefit the automobile industry in India. The company will start operations as a captive vendor for Volkswagen India, making a range of the ‘Body in White’ and additional make metal components for Polo and the Fabia automobiles that are assembled at Volkswagen India’s Plants.
However, the project will serve the needs of other Gestamp’s customers as well such as Mercedes-Benz, Fiat, Suzuki, General Motors, and Ford through provision of local supply to these company’s India and Asia Pacific facilities. Even so, the plant would be run as an independent entity from the other seven facilities in India.
The new plant signals Gestamp’s continued investments in growing markets and its quest to align itself as a global player. The company’s CEO, during the inauguration outlined Gestamp’s continued track record for innovation through the development of cutting-edge manufacturing processes to meet the needs of the future. The new plant employs 180 people, 25% of whom are locals and another 100 jobs are to be created with the company’s continued investments from present through to 2014. The company expects that, with India’s future revenue prospects being high, it will net a turnover of €75 million by the year 2014.