Tube Investments of India
 
Tube Investments of India
Tube Investments of India Ltd.
Formerly TI Financial Holdings Ltd.
Tube Investments to set up Rs 200-cr unit
 

Mr L Ramkumar, Managing Director, Tube Investments of India Ltd

Chennai, Feb. 9:

Tube Investments is investing Rs 200 crore on a tube products facility near Chennai catering to the infrastructure sector.

The 60-acre plant, on the way to Tirupati, will come up in the early part of 2013, said Mr L. Ramkumar, Managing Director.

The plant, with a capacity of 3,000 tonnes a month, will manufacture hydraulic cylinder tubes for excavation and earth-moving equipment. Currently, the company's business from infrastructure is around 10 per cent.

“With the new facility, it will grow to 20 per cent in three years. Initially, it will cater to the domestic market. We will explore export opportunities later.” The facility will also make chains for the auto and industrial sectors. The company's other tube plants are in Chennai, Shirwal and Mohali.

Eastern expansion

Tube Investments also plans to set up a bicycle facility in the eastern region, most likely in Orissa.

“While we have manufacturing presence in the North, West and South, we are not present in the East, which is a big market. Once land is identified, the bicycle facility will come up in a year,” said Mr Ramkumar.

This facility will boost the company's bicycle manufacturing capacity, which is now 50 lakh units a year, by 25 per cent.

The Murugappa group company has a 31 per cent market share in the country's bicycle business.