Pune-based and Prasan Firodia
controlled Force Motors Ltd has informed the Bombay Stock Exchange (BSE) that
the Board of Directors of the Company has approved the establishment of a
factory in Chakan, near Pune for manufacture of motor vehicles parts like
engines, gearboxes, axles and others with annual capacity of 50,000 sets per
Force Motors, when contacted,
noted that they would make a formal announcement on this soon. The company had informed the BSE by Circular
resolution as per the Circular dated February 07, 2015 wherein it stated that
it had approved establishment of factory at Gat nos.330 (part), 331, 332, 333,
312/5/6/7 and 355, Village Nanekarwadi, Chakan, Taluka Khed, District Pune
The Company already owns the
land and necessary steps to convert the use of the land and obtain necessary
permissions for construction and establishment of such a factory are being
taken, the circular to BSE noted.
The company was recently in
the news when BMW India announced that it would be sourcing components from
Force Motors for its Chennai plant. Force Motors has set up a plant along with
BMW India in Chennai to produce engines and gear boxes exclusively for the BMW
cars to be made/ assembled here in India.
The factory has already
started initial activity, which will be ramped up over the next quarter, the
“Presently the products being
manufactured at this factory are for supply to BMW India Private Limited, under
a supply agreement. This supply is on Principal to Principal basis," Force
In addition to this plant, the
company also makes engines and axles for Mercedes-Benz out of their Chakan
plant in Pune.
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