SILVER BASIS expands in India with state-of-art facility in Chakan Invests Rs.50 crores and hires a team of 80 to begin
Pune, March 26, 2018: SILVER BASIS, a world leader in Automotive Injection Tooling announces the opening of a new state-of-the-art facility in Chakan, north of Pune, India. This facility will be dedicated to medium and large size injection tools for the automotive market, both for local and export needs. This will be the first facility of SILVER BASIS group manufacturing new tools outside China.
The new company, named BASIS Mold India Pvt. Ltd., is a joint venture with FAURECIA, a leading Automotive technology company and KRAFTSMAN TOOLING, a Pune based injection mold making company. SILVER BASIS is the majority shareholder and will manage the company.
“This is an important milestone in the 25 years of development of SILVER BASIS”, mentioned Ryan HUANG, EVP of SILVER BASIS GROUP, “demonstrating our worldwide leadership in automotive injection tooling. We have partnered with one of our main customers and used our long-term partnership with KRAFTSMAN TOOLING to secure this investment and provide top quality tooling for the Indian and export markets”.
85-90% of the Moulds are being imported currently and the Indian Market is growing currently at 10-12% annually.
We have currently made an investment of Rs.50 crores and we hope to double our capacity in 3 to 5 years at approx 120 moulds per annum.
The current revenue target would be Rs70 crores in the next 3 years.
The Indian market is currently growing and we are here to stay and we are planning to export upto 50%. Currently we have hired 80 staff and in the next 2-5 years we should double that.