Endurance Group wins 'Best Auto-component Manufacturer of the Year' Award
Endurance Systems (India) Pvt. Ltd., a part of Endurance Group - India's leading auto-component manufacturer won the Car & Bike Award for the 'Best Auto-component Manufacturer of the Year' at the Auto Expo 2008.
Tweet-- Endurance Systems (India) Pvt. Ltd., a part of Endurance Group – India’s leading auto-component manufacturer won the Car & Bike Award for the ‘Best Auto-component Manufacturer of the Year’ at the Auto Expo 2008.
Endurance Group received the honor at a gala ceremony held at Pragati Maidan in New Delhi, in the presence of eminent industrialists, key decision makers and representatives from the Auto sector across the world. This award was presented to Mr. Anurang Jain, Managing Director -Endurance Group.
Commenting on this win, Mr. Jain said “Endurance Group focuses on quality, technology and people. This award is a result of our team work and it goes to all the people of the company.”
At the Auto Expo 2008 Exhibition, Endurance Group displays its principal products such as a range of top class aluminum castings, alloy wheels, suspension, braking & transmission along with the products of its acquired companies.
Notes to Editor
The Endurance Group
The Endurance Group which began in 1985 as a small foundry operation with a turnover of Rs. 36 lakhs is today a Rs. 1500 crores business in the field of Auto components comprising mainly of two streams: Aluminium Die casting products, that contributes to about half of the turnover and the other being Proprietary products consisting of suspension, braking and transmission systems. The company, currently enjoying cost and quality leadership in its field is highly people focused and believes in providing optimum solution to its wide customer base. Once begun as a Bajaj supplier, the Endurance group today has a customer list of who’s who of the two and four wheeler auto OEMs in the country. The group also exports goods worth over Rs. 100 Crores to the US and European market.
Having become one of the largest Aluminium Die casters in the country and also having a leadership position in the proprietary products the company felt that it was time to make its presence felt beyond the shores of India.
Aurangabad-based Endurance Technologies Pvt. Ltd., a part of The Endurance Group has acquired two Aluminium Die casting facilities viz. Nuova Renopress in Italy and Amann Druckguss in Germany in February 2007. The company has also invested a stake in Front Fork manufacturing company Paioli Meccanica, with whom it has a technical collaboration.
In May 2007, Endurance Technologies Pvt. Ltd. acquired Italian company Fondalmec. Fondalmec is based in Turin with a machining plant having sales turnover of 68 Million Euro and die casting plant (having 10 machines ranging from 400T to 1650T) having a sales turnover of 15 Million Euro. This is a profitable company with its' major clients being Fiat, Renault, Peugeot and General Motors.
With this new acquisition, the total expected sales turnover of the ENDURANCE Group for the overseas companies is expected to be 140 million Euro (Fondalmec 75 million Euro, Amann 42 million Euro, & Nuova Renopress 23 million Euro) in the year 2007. This recent acquisition will Enduarnce Group achieve the goal of being the global leader in the aluminium die casting & machining, by the year 2012.
The focus of the Endurance Group being TPM, it is continuously striving to improve productivity and thereby prove to be a cost & quality leader looking at leveraging the elite customer base of overseas subsidiaries with low cost high quality manufacturing base in India. With the help of the above acquisitions, Endurance Group is now direct or indirect suppliers to the major auto OEMs in Europe.
The company’s focus on being close to its customers has paid off with the customer list continuously increasing. The company today has 18 plants in 5 geographical locations in India and 3 plants in Europe through its acquisitions.
Endurance Group has targeted a global turnover of Rs.5000 crores for the year 2009-10. The company has always believed in ensuring that the growth is a profitable one and that it adds continuous value to its stake holders.
In order to raise resources for the strategic acquisitions, Endurance last year placed a small portion of its equity with Standard Chartered Private Equity Fund for a consideration of Rs. 150 Crores.
Having set in motion the process of synergising the operations of the acquired overseas companies with their own, Endurance is also looking at further opportunities in Europe, both in Aluminium Die Casting and its proprietary product areas.
About Nuova Renopress
Nuova Renopress S.P.A. is a company based in Bologna, Italy and has been in the business of manufacturing Aluminium Die Cast components for the past several years. It has a very sound technological base and a very impressive customer profile including the likes of Honda, Bosch and Siemens. On the technological front it is specialised in complex multi cavity castings and has substantially automated its various processes. Endurance shall leverage this expertise to its large domestic capacity. The company is expected to have a turnover of around € 25 million this year.
About Amann Druckguss
Amann Druckguss GmbH & Co. KG, Germany, is specialised in the manufacture of aluminium die cast parts for the automotive industry. Its customers include Daimler-Chrysler, Porsche, MAN, Behr, John Deere, Audi and ZF Friedrichshafen. On the technological front it has substantially automated its various processes. The company’s turnover is expected to be €40 million this year. Endurance will leverage its low cost large volume manufacturing base with Amann’s high technology knowledge and prestigious customer base. This will allow low cost manufacturing in India and at the same time fronting of the business from Germany to provide competitively produced goods with support and after sales services to the customers from Germany.
About M/s. FONDALMEC S.p.A :
FONDALMEC S.p.A, Rivarolo Canavese (TO) was founded in 1977
In the 1980s, the Company entered into the market of automotive supplies and started supplies to ‘Alfa Romeo” as well as the “FIAT Group.
The biggest part of the group’s turnover can be attributed to products sold to important car producing companies as ‘Fiat Group. “PSA Peugeot Citroen Francaise”, ‘Opel Group.
With both these acquisitions, Endurance shall be able to leverage the two companies in its attempt to make a large presence in the lucrative European auto sector market.