Financial Daily from THE HINDU group of publications
Friday, Apr 18, 2003
Financial Daily from THE HINDU group of publications Friday, Apr 18, 2003 |
|
|
|
|
|
Corporate
-
Performance Synergies-Dooray exports at Rs 65 cr Our Bureau
VISAKHAPATNAM, April 17 SYNERGIES-Dooray, the manufacturer and exporter of alloy wheels for passenger cars in the Visakhapatnam Special Economic Zone (VSPEZ), exported chrome-plated wheels worth Rs 65 crore during 2002-03, in spite of a sluggish US market. It aims to increase the exports to Rs 90 crore during the current year, Mr Manoj Khaithan, Executive Director (Finance), has said. At a press meet here, after the opening of a retail outlet of the company, he said Synergies was the only major manufacturer and exporter of alloy wheels in the country, even though there were a few smaller players in the unorganised sector. It sought to promote the concept of alloy wheels and had opened the franchisee outlet here to sell tyres and wheels on an experimental basis. After watching it for six months, more outlets would be opened in the major cities of the country. ``We have entered the retail market to make the consumers aware of the advantages of alloy wheels and then many more original equipment manufacturers would come to us,'' he said. He said the company had achieved a turnover of Rs 100 crore during 2002-03, of which exports constituted Rs 65 crore, and it sought to raise it to Rs 120 crore during the current year. Currently, the company was manufacturing wheels only for passenger cars, but it would take up wheels for two-wheelers as well at a later stage. The plant in the VSEZ had the capacity to produce 6 lakh wheels per annum, he added. Mr M. Sekhar, Managing Director, said wheels would be fitted, aligned and tested using sophisticated machinery. Alloy wheels, though costlier, were gaining acceptance in the market and being used not only in luxury cars, but also in the B-segment cars, he said.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|