9/4/2012 2:42:00 AM
NEWS BRIEFS
Japan’s Piolax Opens Facility in India
Piolax of Japan inaugurated its first Indian facility at the Sri City economic zone in Andhra Pradesh, the Hindu Business Line reports.
Piolax, a global manufacturer of industrial fasteners, coil springs, flat springs and compact units for automotive markets, has facilities in the U.S., the UK, China and Thailand.
The Piolax India subsidiary is slated to commence commercial production shortly, hiring as many as 200 workers.
“We are happy that out of the 12 Japanese firms setting up units at Sri City, Piolax will be the third to commence production, with the remaining in various stages of construction,” said Ravindra Sannareddy, Managing Director of Sri City.
Sri City is also reportedly setting up country-specific enclaves to offer exclusive facilities to companies from these countries.
Founded in 1933, Piolax reported consolidated fiscal 2012 sales of 46.5 billion yen, with 2,375 employees. ©2012 GlobalFastenerNews.com
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