Aequs, a precision manufacturing company, laid the foundation for a new automotive components plant at its 250 acre Aequs SEZ in Belgaum on Wednesday.
The new automotive plant will add machining capacity of over 100,000 hours annually and will support the company’s rapid expansion plans in the US and Europe markets this year. Aequs aims to increase its revenues from the automotive business to $30 million by 2020 and is scouting to establish joint ventures to add to its capabilities in this vertical.
The new plant, which is expected to be operational from March 2015, will further strengthen Aequs’ emergence in the last few years as among the few Indian companies.
(Published 02 July 2014, 17:24 IST)
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