Sabo-Hema to manufacture shock-absorbers in India

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 28, 2010 -- Sabo of Italy, Europe’s major players in after market shock absorbers, having operations in over 85 countries across the globe, has entered India in a 50:50 joint venture with Hema Engineering Industries Ltd to manufacture the shock absorbers in India. The two companies have set up a manufacturing facility with investments of Rs. 23 crore in Gurgaon, India. Operational under the JV company - Sabo Hema Automotibe Pvt. Ltd., the plant has an installed capacity of 2.5 lakh shock absorbers for commercial vehicles.

Mr. Massimo Nuti, General Manger, Sabo of the Italy said, “India is a very strong market for us that pose huge potential. We are pleased to join hands with HEIL and this association with Hema will give us the desired start in the Indian region and a strong presence in India market.”

Speaking on this occasion Mr. Chandresh Jajoo, MD, Hema Engineering commented, “We believe that both companies are well-positioned to manage the integration of systems, deliver international quality product and develop a brand image that can create value among the commercial vehicle companies. The JV will prove to put forward safe and competitive offerings to Customers in both OEM and After Markets.”

With this new plant inauguration, the Company aims to produce various types of shock absorber for commercial vehicles. The shock absorbers manufactured at this plant would go through stringent quality measures ensuring a quality product to the India market. Add to this the State of Art Technology of Sabo & vast Experience of Manufacturing brought in by Hema, the JV will contribute to cost minimization.


Reiterating on the commitment to the India market, Mr. Jajoo added, “The commercial vehicle market in India is growing at a tremendous pace and to meet this demand, we plan to set-up another manufacturing facility in Chennai. This facility will be operational by 2012. Based on our extensive marketing and operating activities, we aim to capture 25% of the component’s market in commercial vehicle segment.”

About Sabo Italy: - Currently a 40 million euros revenue group, Company was started way back 40 years ago by Roberto Nuti Spa. Roberto Nuti Spa exports over 85 countries. Over 1000 catalogues items perfectly interchangeable with original parts. Sabo is one of Europe’s major players in after market shock absorbers. Sabo offer a large range of shock absorbers for commercial vehicles, trailers and bus, come in three different families, each of them addresses specific functional and quality needs. Internally manufacture the Sabo range, and purchased a production facility in Tuscany, in Vicchio del Mugello where 10.000 Sabo shock absorbers were produced every week. These items were stored, packaged and shipped to a plant in Ozzano Emilia, to the east of Bologna, where the headquarters of the company were located.