Hosur, India -- Harita Seating Systems Ltd plans to expand its turnoverto Rs 500 crores ($100 million) over the next few years, from itscurrent figure of Rs 200 crore (1 crore = 10 million), president S.Thiagarajan, told Indian news source motorindiaonline.com.
Indianautomotive supplier Harita, part of auto parts firm TVS Group, expandedby buying automotive seat foam supplier Polyflex -- with plants inPune, Bangalore and Chennai -- in December 2008. It boughtBangalore-based Polyflex's Chennai and Bangalore sites and "movableassets'' of a plant in Pune, India. Harita also is taking over PolyflexEngineering, which fabricates seat frames in Bangalore.
Polyflex supplies PU foam for vehicle seating to Tier 1 autosuppliers, including Tata Johnson in Pune and Chennai and to DymosIndia in Chennai. Car maker customers include Tata Motors, Ford MotorCo. and Hyundai Motors. Polyflex will continue as a Tier 2 supplier topassenger vehicles. Once the takeover is complete, the company will becontrolled by Harita-Fehrer, a 51-49 percent Harita joint venture withPU foam and car interior parts maker F.S. Fehrer Automotive GmbH ofKitzingen, Germany.
Harita now supplies all automotive sectors -- cars, two-wheelers, busand truck -- from its three plants in Hosur (its headquarters),Ranjangaon, and Nalagarh.