Raymond's subsidiary Ring Plus Aqua's third plant to come up in Maharashtra

Friday announced the opening of its third manufacturing facility in Sinnar, Maharashtra, built at Rs 45 crore. "In addition to the two existing plants located at the Sinnar Taluka Co-operative Industrial Estate (STICE), this plant will produce starter ring gears, transmission flex-plates and integral shaft water pump bearings," Raymond said in a regulatory filing.

RPAL, an automotive components maker, is a supplier to original equipment manufacturers including BMW, Ford, Maruti Suzuki, Hyundai, Honda, Tata Motors, Mahindra & Mahindra, Cummins, VECV, Caterpillar and Fiat. "We have a tactical focus on our non-core business that has maintained its profitable growth momentum. Under our strategy of an expansion plan for manufacturing ring gears, this new facility with an investment of Rs 45 crore will add capacity to the present product line and further consolidate our position in the segments we serve," Raymond Chairman and Managing Director Gautam Hari Singhania.

The new facility will have a capacity of 2 million ring bearings per annum.