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HM in talks with auto majors

Special Correspondent

To act as OEM source for auto-components in India and abroad

KOLKATA: C. K. Birla controlled Hindustan Motors (HM) is in talks with several auto majors within the country and outside for acting as their OEM source for auto-components.

Ravi Santhanam, Managing Director, said the development of the auto component business at the mother unit at Uttarpara, was part of a business strategy, and this, along with the launch of new models of upper-end cars and variants of Ambassador, was likely to improve the company's sagging bottomline by September 2006. The company closed the quarter ended December 31, 2005 with net sales of Rs. 114.72 crore and a net loss of Rs. 15.50 crore. Mr. Santhanam, who was here to launch the Mitsubishi Lancer Cedia and the Lancer Sports models (both priced at 9.87 lakhs, ex-showroom, all over India), said in segments such as forging, stamping and machine components, the company was in talks with auto-majors to become their OEM source. He said that talks were also being held with HM's technical collaborator Mitsubishi for supplying components.

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