Hyva, a world leader in front-end tipping systems, Monday said it has lined up Rs 60 crore investment in India by 2020. The Netherlands-based firm, which caters to the commercial vehicle and environmental services industries, will utilise Rs 300 million each in 2019 and 2020 to enhance production capacity and expand its Pune plant.
"India is a major market for us, not only it is a large sales market but also a core market for the manufacturing operations of Hyva, "company's CEO Marco Mazzu said in a statement. The company has over 40 per cent market share in front-end tipping solutions globally and is now eyeing Indian market, he added.
Hyva started India operations in 1997 and has four plants in Navi Mumbai, Jamshedpur, Bengaluru and Pune. It serves various clients including Tata Motors, Volvo India, Daimler India Commercial Vehicles, VE Commercial Vehicles, among others. Headquartered in Alphen aan den Rijn in the Netherlands, the company operates in more than 110 countries with over 3,500 employees around the world.
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