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Lucas-TVS plans units abroad

— PHOTO: SHANKER CHAKRAVARTY

GOING PLACES: T. K. Balaji (centre), Chief Executive and Managing Director, Lucas-TVS, N. Ravichandran (right), President (Operations), and Arvind Balaji, Vice-President, Business Development, with the ACMA award for excellence in technology at a press conference in New Delhi on Thursday.

NEW DELHI: Auto component manufacturer Lucas-TVS on Thursday said it will invest up to Rs. 400 crore in the next two-three years to expand capacity and product development, while planning to set up new manufacturing units in Indonesia and Thailand.

“We will invest up to Rs. 400 crore over the next two-three years in R&D, manufacturing and capacity building,” Lucas-TVS Vice- President (Business Planning), Arvind Balaji, told reporters here.

The company, which at present has seven operational plants, including one in Iran, is also mulling over setting up new plants in Indonesia and Thailand. Mr. Balaji said the company had started production in the Iran plant through a joint venture with an investment of Rs. 16 crore in which it was the majority partner.

To expand its presence, the company would launch its products in Germany in the next two years, besides looking for inorganic growth opportunities. “Lucas-TVS is looking out for domestic and international acquisitions,” company President (Operations), N. Ravichandran, said. He, however, declined to give details of the company’s future acquisition plans.

On the domestic front, Lucas-TVS is about to set up a plant in Singur to supply parts to Tata Motors for its Rs. 1 lakh car. “We have acquired land in Singur for setting up a plant and will supply starters and alternators to Tata Motors’ Rs. 1 lakh small car,” Mr. Ravichandran said.

The company, which had a turnover of $250 million in the last fiscal, was expecting to double the revenue in the next four years, Mr. Balaji added. — PTI

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