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Hindustan Magnesium Group MoU for lightweight solutions-The 20th China (Guangzhou)Int’l Fastener & Equipment Exhibition
1/14/2019 緊固件展-緊固件采購會-國際緊固件展-fastener expo |
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Magnesium-based lightweight solution provider, Lite Auto Components, part of Hindustan Magnesium, recently signed a MoU with AP Economic Development Board. As per the MoU, the company will set up a manufacturing facility with an estimated valuation of INR 500 crore, spread over a 15 acre land parcel in Andhra Pradesh. The new facility once commissioned, is expected to cater to Indian and global automotive OEMs respectively as they scout for modern lightweight materials for diverse automotive applications.
With lightweight materials like Magnesium alloys increasingly becoming a preferred choice of OEMs, and finding application across automotive body, chassis, transmission, powertrain, seating and structural applications, the new lightweight solutions plant, claimed Bala Anand Jeldi, Chief Managing Director, Hindustan Magnesium said that “This facility will manufacture lightweight applications using Magnesium alloys in the automobile sector and in turn create an estimated 2000 direct and indirect jobs.”
Mr Subha Charan, Vice President, Strategy that “The stringent Emission control norms like BSVI and Euro VI coupled with Corporate Average Fuel Economy norms (CAFE) were mainly driving automobile manufacturers throughout the world to look for lightweight alternatives like magnesium alloys over steel and aluminum used traditionally.”
緊固件展-2019第二十屆廣州國際緊固件及設備展覽會-巨浪展覽
-The 20th China (Guangzhou)Int’l
Fastener & Equipment Exhibition
- Fastener exhibition,2019 Fastener
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