Global leader in front-end tipping systems, Hyva, has said it has lined up Rs 60 crore investment in India by 2020.
In a statement, the Netherlands-based firm’s CEO Marco Mazzu said, “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.”
The company, 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.
Mazzu added that the company has over 40 per cent market share in front-end tipping solutions globally and is now eyeing Indian market.
Hyva, which started India operations in 1997, has four plants in Navi Mumbai, Jamshedpur, Bengaluru and Pune. It clients include Tata Motors, Volvo India, Daimler India Commercial Vehicles and VE Commercial Vehicles, among others.
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