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.
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.
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.
group already has a subsidiary in the US, which handles
its exports to the region.
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.