RE Components started manufacturing textile machine components in 1997 at its plant in Rajkot. Over the last two decades, the company has expanded to emerge as a globally-accepted manufacturer of automotive parts sought after in nearly 18 countries around the globe.
Like many other home-grown component suppliers, RE Components has established its strong presence in the aftermarket space, both domestically and in overseas markets. As part of its strategy of penetrating further into the OE segment, it made its first appearance at the IAA Commercial Vehicle fair in Hannover last year.
Talking to MOTORINDIA at IAA, Mr. Sanjiv Vadodaria, Director, RE Components Pvt. Ltd., said: “We have established our brand in the aftermarket, so right now we are targeting the OEM segment. In India we already supply to two OE customers directly as tier-I; we also supply pins to axle manufacturers as a tier-II supplier. Our target is to reach out to the OEMs in the European market, which is why we are here at the IAA for the first time.”
RE Components’ Rajkot plant, has its in-house machine shop facility. The company gets 70 per cent of its revenue by exporting to 18 countries worldwide, including markets like Europe, the US and the Middle East, with the remaining 30 per cent coming from the domestic market.
Sharing details of the response at the show and why customers would want to source from RE, Mr. Vadodaria stated: “The response has been very good for us; this platform has given us a chance to meet and interact with many global OE customers while we have also had customers from India visiting us here. We offer complete kits of pins, bushes and other components, which makes us a single source of a wide range of components. This is one of our main advantages and a reason why customers prefer to engage with us.”
At present, only 30 per cent of RE’s biz share comes from OEMs, with the aftermarket accounting for the rest. Moving forward, the company is targeting to reverse the proportion and reach a share of 70 per cent from the OEM segment towards which it is actively working.