Liners India new foundry @ Coimbatore
CYLINDER LINER manufacturer Liners India is readying its greenfield foundry in Coimbatore to make static castings at an estimated investment of Rs 40 crore. Liner’s thrust to tap newer opportunities in the automotive space will also find it setting up a 100% export oriented unit for steel liners in Chennai as a joint venture with a leading European engineering firm. This facility, meant for export to the US, is likely to be operational by September and will produce 30,000 steel liners a month, CMD S Ganesh told.Liners is a major manufacturer of centrifugally-cast cylinders and produces two million cylinder liners annually. Its products find application with the automotive sector and the railways. Its Vijayawada facility melts 42 tonnes a day.Liners has acquired four acres near Coimbatore for the 25,000-tonnes per annum capacity foundry. ‘‘Our vision is to become a key player in the auto component business. The new ventures will link us in strategic tie-ups with machine manufacturers. Besides, lots of companies abroad are looking at India as a potential market as well as a low-cost manufacturing destination,’‘ he said.On funding, Mr Ganesh said the company may go public next year. Currently, private equity and internal accruals are being tapped for the Coimbatore project.Liners India has also picked up a 30% stake in a company in Gummudipondi. The new facility will have the capacity to melt 15 tonnes a day and will manufacture centrifugal castings. It has also set up an unit in Uttaranchal to serve the aftermarket. Liners India had a turnoverof Rs 50 crore during the last fiscal and is eyeing a turnover of Rs 75 crore .
