Moriroku Technology Japan makes a significant investment to grow business in India

0
44
Moriroku Technology Japan makes a significant investment to grow business in India
Moriroku Technology Japan makes a significant investment to grow business in India

The third significant investment made by Japanese manufacturer Moriroku Technology, a top producer of plastic automotive exterior and interior parts worldwide, has been made in India. A groundbreaking ceremony was conducted by Moriroku Technology India (MTI) for a new, state-of-the-art plastic exterior paint line that has an annual capacity of one million components on average.

This greenfield facility, which would cost INR 100 crore (about USD 12 million), will be built in Bhiwadi, Rajasthan, on land next to the company’s currently operating Kaharani plant. By October 2025, the new facility will be completely operational.

With a history spanning more than 360 years and 75 years as a leading global supplier of auto parts with robust R&D capabilities, Moriroku Group has been present in India since 1997 and is a significant supplier of plastic parts to Honda. With this additional investment, MTI plans to strengthen its relationship with other possible automobile OEMs in India and collaborate more closely with Honda to deliver high-quality goods with added value.

Hideo Tsukai, the director of Morioku Technology and executive managing officer, and Yasushi Nakao, the executive officer, were present at the groundbreaking event together with other dignitaries from Honda, the whole local management of MTI, and other significant project-related stakeholders.

In his speech, MTI Managing Director Tetsuyuki Nakano mentioned, “Demand for high-quality automobile plastic parts is expected to increase, and there is also highlighted interest in customer demand for superior-quality interior and exterior fit-finish in automobiles. With the establishment of this new advanced paint line, we aim to set a new quality benchmark in India.

Director Hideo Tsukai remarked, “India has great potential to be the future business power center of the world, and with our already established strong roots here, Moriroku is committed to expanding its base in India while continuing to transfer the latest technology with a robust focus on sustainability.”

Yasushi Nakao, the Global Purchasing Officer, stated during the event that Moriroku now considers India to be a major export market for more Moriroku Asia factories. “MTI operations are already optimized and capable of meeting worldwide QCD standards with SDG compliance as the key management policy in India, a highly competitive market.

Deputy MD Shalabh Sangal concluded the event by stating, “This new investment marks a new beginning for MTI. The latest technology and accumulated know-how transferred from our parent company will provide us with a great opportunity to support and serve our esteemed customers with outstanding quality standard products. He also emphasized that with evolved management principles on sustainability, including shared values, is already in our roots, and MTI’s each management action will be proactively aligned with the Moriroku future global vision”.

Also readUnveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.

CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.