Sona Group to diversify into auto component business
As part of its strategy to increase its exports, Sona Group is diversifying into the auto components business.
According to Chairman & MD of Sona Group "Currently we are looking at three specific projects – stampings, castings and forgings and a final decision is likely to be taken by July end,". He said the group's decision to enter the auto component space, diversifying from its core steering systems and forge gears, was mainly on account of its plans to expand exports volumes. He also added that "Currently we export our steering systems to North America, which are limited. If we want to expand our exports then we have to have a presence in the auto component space".
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