Uniparts Group Eyes Expansion, To Invest Rs 100 Crore

According to a media report, Uniparts Group, an international manufacturer of engineered systems, will invest Rs 100 crore to establish a plant in Ludhiana. It will also expand its Visakhapatnam plant.

Uniparts currently operates six manufacturing facilities, out of which five are located in India and one is in the US. The company is planning to venture into agriculture business, construction, forestry and mining sectors.

Paramjit Soni, vice-chairman of Uniparts, said, “The company is working on new components and platforms under the 3-Point Linkage System, which forms the backbone of agricultural machinery globally, and will add new applications for tractors, harvest combines and other such vehicles.”

"We are expanding our facilities and adding fresh investments to bring our global technology into new products for the Indian market. The 3PL products for tractors and allied agriculture sector, which are basically attachments, would considerably enhance productivity and will be our growth drivers for the future," he added.

He also added that the production of tractors is estimated to touch 1.96 million units worldwide in 2015. India accounts for about 41% share, followed by China (24%).