Tube Investments of India
 
Tube Investments of India
Tube Investments of India Ltd.
Formerly TI Financial Holdings Ltd.
TI doors for Tata Nano
 

Chennai: Cycle and engineering products manufacturer Tube Investments of India Ltd (TII), part of the Murugappa Group, will invest Rs 75 crore this year for capacity expansion, including Rs 30 crore in Sanand at Tata’s Nano project site, a top company official said.

“We will invest about Rs 30 crore to manufacture door frames for the Nano project in Sanand,” L Ramkumar, managing director, TII said on Friday. The company already has a 60% market share in car doorframes and supplies to Hyundai, Maruti, Tata and GM. TII, which completes 60 years of operations on September 9, is also looking at acquiring either technology or companies to expand its business.

Ramkumar also said the company may exit China, where it manufactures cold drawn welded (CDW) tubes, if it does not find a local partner. “A team has gone to China to explore options. We may continue to be in China if somebody is willing to work with us or we may exit the country,” the managing director said.

On the anvil is the launch of a range of BSA e-scooters. TII will also be looking at new product segments like industrial chains segment and tubes with the introduction of aluminium tube and stainless steel products.” TNN & AGENCIES