Hero Motors invests Rs.150Cr, installs new manufacturing unit under joint venture with Kiriu, Japan

ANI | Updated: Sep 21, 2017 10:09 IST

New Delhi [India], Sept 21 (ANI): Kiriu Industries Pvt Ltd">Munjal Kiriu Industries Pvt Ltd, a joint venture between Hero Motors Company and Kiriu of Japan on Thursday launched its new manufacturing unit at Mandal near Ahmedabad, with an investment of Rs. 150 Crore.

The plant was inaugurated by Pankaj Munjal, Chairman - Hero Motors Company and Yoshimoto, President-Kiriu Corporation, Japan, and is expected to have an installed capacity of 1500 tons per month, with the first phase of the machining facility just being commissioned.

"The new machining facility has high productive semi-auto transfer lines. This will ensure highest quality standards for our products. There are other processes of manufacturing excellence as well which have been put in place in the plant. We will be able to provide the best quality parts to our OEM partners in Western India through this plant," said Pankaj Munjal.

The Casting phase of the plant is under construction and is expected to be ready by March 2018.

"After the Casting phase, Kiriu Industries Pvt Ltd">Munjal Kiriu Industries Pvt Ltd will have a completely integrated production facility from raw material to finished products in one flow. This will be in line with Kiriu's production way called 'IKKI-SEISAN'. This will make us independent in our manufacturing processes and will also offer us unmatched efficiency," said Yoshimoto.

Kiriu Industries Pvt Ltd">Munjal Kiriu Industries Pvt Ltd already has a well functioning plant in Manesar (Haryana) with an installed capacity of 4200 tons per month, manufacturing Ventilated Disc and Drum for passenger cars. The firm is one of the key suppliers of brake parts to Maruti Suzuki, Honda, Renault, Nissan and Toyota.

This second plant of Kiriu Industries Pvt Ltd">Munjal Kiriu Industries Pvt Ltd has come up at the 100 acre Japanese Industrial Park at Mandal where a number of Japanese MSME units are already established.

Kiriu Industries Pvt Ltd">Munjal Kiriu Industries Pvt Ltd supplies high quality and precision brake parts and other components, the demand for which has led to expansion of its manufacturing capacity from North India to Western India. The company has a Technical Assistance Agreement with Kiriu Corporation, Japan and makes ferrous casting parts (both machined and non -machined) like brake disc, drum and knuckles. (ANI)