Caparo Opens $21m Fastener Plant in India

John Wolz

London-based Caparo Group opened a $21.8 million auto fastener factory in Chopanki, India, Asia Pulse reports. The new plant is Caparo”s seventh facility in India, with five more being planned. The factory will have capacity of 26,000 tons when fully operational.
CEO Angad Paul said Indian operations currently contribute about 7% of the group”s global revenues, but he expects that figure to rise to 20% by 2010.
Caparo”s Indian operations posted 2005 revenue of Rs 2 billion (US$43.5 million). \ �2006 FastenerNews.com