Earmarks Rs 211 million for capacity expansion at Chakan plant and
Rs 481 million to set its fourth plant at Pantnagar in Uttarakhand
Automotive Stampings and Assemblies Limited (ASAL), one of the largest manufacturers of sheet metal components and assemblies for the automotive industry, today announced its growth plans. The company is setting up a new manufacturing unit in Pantnagar, Uttarakhand with an estimated outlay of Rs 481 million. It has also earmarked Rs 211 million for the capacity expansion at Chakan. Both these activities are expected to be completed by last quarter of the current financial year.
Recently, Gestamp Servicios, S. L., acquired 37.5 per cent equity share capital, as a joint venture partner with Tata AutoComp Systems Limited, in this company. This joint venture facilitates new opportunities towards creating world-class products and services. This will also enable ASAL, to access latest technologies in sheet metal stampings such as tailor welded blanks, hot stampings, hydro forming and roll-forming.
The ‘Technology Transfer and Technical Assistance Agreement’ with Gestamp Group will enable ASAL to enhance its existing business, build capabilities and enhance the growth of the company. OEMs are exploring these technologies for their new programmes.
About Automotive Stampings and Assemblies Limited
Automotive Stampings and Assemblies Limited, one of the largest manufacturers of sheet metal components and assemblies for the automotive industry started its operations in 1990. It is a joint venture between Tata AutoComp Systems Ltd and Gestamp Servicios, S. L. ASAL supplies a large range of components and assemblies to different sectors of the automobile industry in widely varying specifications. The current product offerings includes skin parts of car, body in white components, under body members, fuel tanks, chassis and suspension parts, wheel housing and oil sumps.
Over the years, ASAL has built up an extensive manufacturing base with in-depth knowledge of market needs and trends, offering a vast range of products to fulfill the requirements of the Indian as well as the multinational automotive manufacturers. Today, ASAL is the preferred supplier for a host of leading players in the automobile industry which include Fiat India, FORD Europe, General Motors India, Gujarat Setco, John Deere India, John Deere USA, Mahindra & Mahindra, Piaggio India, Tata Motors, Trelleborg Germany and Volvo India among others.