It is hoped that after a normal monsoon, the sentiment in the rural markets will improve and thereby demand for these vehicles will sustain, S Ram, Chairman, Wheels India told the shareholders at the 60th AGM of the company held in the city. Ram said the company expects to start production of cast aluminium wheels for export markets from a new plant, near Chennai, that is coming up at an investment of around Rs 140 cr. The company has also been investing in the modernisation of its plants and expects this to yield results in the future.
R& D testing facility
On the setting up of a R&D testing facility, Srivats Ram, MD, Wheels India, said “We have set up a testing facility at the Padi plant in Chennai, where we will also now offer product testing services to companies in addition to testing the products that we manufacture. We are also continuously working on patents for our products and believe that this will give us a significant competitive edge in the market, going forward.” The Wheels India Chairman said the company saw a strong growth in the windmill segment in the domestic market. The growth in the company’s windmill component business is likely to continue this year.