Financial Daily from THE HINDU group of publications
Wednesday, Nov 24, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - New Projects


Steelbird plans expansion

Our Bureau

HYDERABAD: With more and more States likely to make helmets a must for two-wheeler riders, Steelbird Hi-Tech India Ltd, a leading helmet manufacturer in the organised sector, has decided to go on a three-phased expansion drive that would cost Rs 40 crore.

The expansion would increase the total capacity from the present 3,000 helmets a day to 18,000 by 2008.

"In the first phase, we will set up a Rs 10-crore manufacturing facility at Baddi in Himachal Pradesh. The production in this plant will start in the next financial year," Mr Rajeev Kapur, Managing Director of the company, said.

Talking to newsmen here on Tuesday, he said the company would invest 40 per cent, while banks and financial institutions would contribute the remaining part. Banking on the 10-year tax holiday in that State, the company planned to sell helmets at lower prices, catering to the lower segment. "There is a huge potential for helmets as only three places (Delhi, Chandigarh and Hyderabad) impose the wear-helmet rule as of now," he said.

After the first phase of expansion, the company might go for a public issue in 2006. If it succeeds, it would be the first helmet company to go for an issue. Steelbird has tie-ups with four Italian companies, including Composites Bieffe Srl, AD Engineering and GP One Srl.

More Stories on : New Projects

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Novartis research centre: It's a toss-up between India, China


FFE Minerals bags Rs 358-cr order from Vedanta
Mukesh says CMD is final authority — Reliance director Bhakta resigns
Chamber urges Govt to restore tax benefit on ECB interest payments
SRL Ranbaxy concludes pathological trials for 2 foreign hospitals
Salem Steel Plant gets award for QMS
Samsung to double India workforce
Indian Hotels plans resort in Munnar
ACC to invest Rs 370 cr to expand capacity
Steelbird plans expansion
BoI loan to buy Greaves tillers
Zydus Cadila in pact with Italian group
TNPL to buy hardwood from TAFCORN
Matrix Labs firms up profit sharing pact with US firms



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line