Rane NSK Steering Systems Ltd. (RNSSL) has opened a new state-of-the-art plant to produce electric power steering at Bawal, Haryana, 80 km south-west of Delhi, with a view to meeting the growing demand of vehicle producers in the national capital region. RNSSL has invested Rs. 377 million in the new world-class facility with an initial annual capacity to produce two lakh electric power steering systems for vehicle assembly plants in the region.
The plant will employ about 100 persons. While the production staff were trained on-site by NSK specialists, key process technology and manufacturing engineers were trained in Japan by NSK Ltd.
Speaking on the occasion, Mr. Ganesh said: “We have decided to invest in this plant keeping in line with our overall strategic growth plans. RNSSL will grow in its chosen segments through expansion, upgraded technology and synergetic diversification. We are also expecting sales revenue of over Rs. 2 billion by 2010-11”.
Mr. Degawa said: “The key is close service to our customers in each of India’s manufacturing regions. To overcome logistics challenges and offer minute-by-minute technical support, our plants must be close to the final assembly line. So this new Bawal plant will offer the kind of support our Chennai plants provide in South India.”
Completed in just eight months, the 3,600 sq. mt. plant offers a vast production area unobstructed by support pillars. Electricity needs have been reduced by maximizing the use of natural light and utilizing high efficiency air-conditioning throughout the building. The plant’s state-of-the-art equipment has been built in Japan by NSK Ltd.
The five-acre site in the Bawal Industrial Area offers ample space for ambitious expansion plans. With contracts for new business already in hand, RNSSL also plans additional investment in phases.
Mr. Degawa observed: “NSK has been associated with Rane in India since 1997. But with this investment our partnership is reaching a new level. We are excited by the prospects in this country and confident in our relationship with Rane. I believe we are poised to achieve our vision to become India’s market leader in steering”.
Established in 1997 as a 50-50 joint venture between the Rane Group and the Tokyo-based NSK Ltd., RNSSL produces energy absorbing steering columns, rigid steering columns, tilt, telescopic & sliding steering columns and intermediate shafts and joint assemblies.
NSK is the world’s third largest bearings manufacturer noted for technological innovation. Founded in Japan in 1916, it is now a truly global company with 23,000 employees and manufacturing operations in 14 nations worldwide. Revenues in the fiscal year ended March 31, 2008, reached 722 billion yen.
Established in 1929, the Chennai-based Rane Group comprises seven companies manufacturing safety and critical components for a broad range of automotive industry segments. In fiscal 2007-08 the group recorded revenues of Rs. 14,000 million.
