Financial Daily from THE HINDU group of publications
Saturday, Feb 19, 2005
Alliances & Joint Ventures
Delphi to explore more jt ventures with TVS
(From right) Mr Suresh Krishna, Chairman and Managing Director, Sundram Fastners; Mr Ratan Tata, Chairman, Tata Motors; Mr Guy C. Hachey, President, Delphi Energy Chassis Systems; and Mr T.K. Balaji, Managing Director, Delphi-TVS Diesel, at the foundation stone laying function of the technical centre of Delphi-TVS Diesel System near Chennai on Friday. - Shaju John
Chennai , Feb. 18
DELPHI, the world's largest auto component manufacturer, is exploring the possibilities of setting up more joint ventures with the TVS group, Mr Guy Hachey, President, Delphi Energy Chassis Systems, told newspersons here.
Mr Hachey participated in a function of Delphi-TVS Ltd, which celebrated the production of one million fuel pumps at its plant.
He said that with the success of Delphi-TVS, more joint ventures were possible. However, he declined to give any details.
Speaking at the function, Mr Hachey said Delphi saw its revenues from India operations to go up to $500 million by the end of this decade, five times as much as now. Delphi has so far invested $100 m in India and more investments are in the offing.
He said that Delphi-TVS would start producing common rails and filters from August. These products are key components of a diesel engine of `common rail injection' technology.
The technology, being cleaner and more efficient, is expected to rule the market in the coming years.
Speaking on the occasion, the Chief Guest, Mr Ratan Tata, noted that the "days of small incremental improvements in technology are history."
Indian companies will have to leap forward, he said.
Mr Tata recalled the scepticism that surrounded the Tata Indica project and how the car became a success.
Mr Suresh Krishna, Chairman and Managing Director, Sundram Fasteners Ltd, said that Indian companies needed to recognise the "global appetite for competitiveness" and the consequent business opportunities.
Observing that this "window of opportunity" could remain for about 10-15 years, Mr Krishna said that the success of Indian companies in the coming years would be determined by their ability to ramp up capacities quickly.
Later, Mr Ratan Tata laid the foundation stone for a `technical centre' at Delphi-TVS. The centre, being established at a cost of Rs 50 crore, will contain a range of equipment such as a chassis dynamometer, cold room common rail engine test bed and common rail test beds, emission test facility and calibration equipment.
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