AUTO COMPONENT MANUFACTURERS HIT THE DIRT ROAD ON FALLING SALES

Article Abstract:

The Rs12,032 crore auto components industry suffered a 12 percent fall in its growth during April-October 1998. It earned Rs1,240 crore through exports. The poor performance in the sector was due to the recession in the commercial vehicles segment. Exports of auto components increased by 5 percent, compared to 20 percent in the last 3-4 years. The industry is having 30 percent excess capacity. It has been forced to reduce production by 30-50 percent. There has been a slump in exports due to the recession in south-east Asian countries. Investments in the industry were Rs6,800 crore, of which foreign investments were 20 percent. The industry now has 152 joint ventures. The joint ventures with foreign companies are 356. (gs) (kvr)

Comment:

The Rs12,032 crore auto components industry suffered a 12 percent fall in its growth during April-October 1998.

Sales, profits & dividends, Foreign trade, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Automotive parts

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FAG PRECISION GETS QS 9000

Article Abstract:

Fag Precision Bearings Ltd of Baroda has obtained the QS 9000 certification from RW TUV of Germany. It is the first rolling bearing company in India to acquire the certification, which is the highest quality standard in the world. (khr)

Product development, Ball and roller bearings, Ball & Roller Bearings, Ball and Roller Bearing Manufacturing, Machinery industry, Fag Precision Bearings Ltd.

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