Sona Group to set up French subsidiary
21 Jul 2006
New Delhi: The Rs800-crore Sona Group is setting up a subsidiary in France called Sona Autotech (France), which would handle the group's exports to Europe. The company exports to Europe are set to see a significant jump, especially with Sona Koyo commencing supplies to Fuji Autotech, in which it holds 17 per cent stake.
The company expects a business of 30 million from Fuji Autotech, which also has subsidiaries in Brazil and the Czech Republic, by 2009. The figure is expected to be about 1.5 million in the current year.
Sona Autotech (France) would set up a warehouse to handle exports of all Sona group companies including Sona Koyo, Sona Okegawa, and Sona Somic Lemforder. Exports of Sona Somic Lemforder are also expected to see an increase with the company likely to commence exports to ZF Lemforder soon.
The group already has a subsidiary in the US, which handles its exports to the region.
The
Sona group is targeting exports of Rs150 crore this fiscal,
most of which will come from exports by Sona Koyo, up
from Rs100 crore last year.
