According to John Pinson, chief executive officer of Stanadyne, the auto parts manufacturer based in the United States, the company is looking at a few locations in western and northern India to set up its second plant there, which would require an investment of approximately Rs 200 crore.
Pinson said that the company, which manufactures fuel pumps and fuel injectors for agricultural and commercial vehicles and sells them to companies like Bajaj Auto, Greaves, TAFE, and Simpson, plans to triple its sales revenue from the India operation to about Rs 110,00 million by 2027.
Chennai is Stanadyne's only plant in India, where approximately 700 people work. According to Pinson, approximately 30 per cent of the company's global revenue comes from the India operation. The US operation accounts for roughly 60 per cent of Stanadyne's total global revenues.
It is interesting to note that only about 25 per cent of the company's revenues in India come from domestic consumption and 75 per cent from exports. Products are currently delivered to businesses in Italy, the United States, Mexico, China, and Turkey by the Chennai plant.
