Two of the Sri City based Japanese industries, Kobelco Plate Processing India Private Limited and Piolax India Private Limited have expanded production capacity by adding new units.
Kobelco Plate Processing India, as a core member of the $2.49-billion Kobe Steel Group, Japan, with more than 40,000 employees worldwide, is a service provider of fabrication of Mild Steel plates. The company had set up its plant in this industrial park in 2013.
Piolax India, a subsidiary of the $29.5 million Piolax Japan, is a manufacturer of auto components including coil springs, flat springs,wire forms, metal/plastic fasteners set up its unit in 2012. The company supplies its products to Nissan, joint ventures of Ashok Leyland-Nissan and Renault-Nissan and Honda among others.
Both the companies have inaugurated their new facilities on Wednesday.
Commenting on the occasion, Ravindra Sannareddy, founder managing director, Sri City said: "We are very glad as both Kobelco and Piolax are growing and expanding and continuing to invest here in Sri City. In fact this is the second unit expansion by Kobelco Group, following the expansion of its crane unit, within in an year. I am optimistic that these expansions will further drive the economic growth and employment opportunities in the region."