Business Update25 Jun 2024, 08:11 pm
Jtekt India Ltd Announces 1.4 Million Capacity Expansion for CVJ Forging Child Part by October 2026
AI Summary
Jtekt India Ltd has announced a capacity expansion for CVJ Forging Child Part. The existing capacity was nil, and the proposed capacity addition is 1.4 Million. The expansion is expected to be completed by October 2026. The investment required for this expansion is yet to be finalized and approved by the board. The company plans to finance the expansion through a mix of internal accruals and borrowings. The rationale behind this expansion is to support the existing product (CVJ) and new products to cater to the fast-growing Indian OEMs and global demand.
Key Highlights
- 1.4 Million capacity expansion for CVJ Forging Child Part
- Existing capacity was nil
- Expansion to be completed by October 2026
- Financing through internal accruals and borrowings
- Expansion to support existing and new products for Indian and global demand