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Escort To Expand Auto Component Business
Delhi based manufacturer of auto components , Escort has decided to rebuild its business, along with that it is looking out for business partners to expand.
Escort group is an Indian engineering unit that is well established as a manufacturer of tractors. However, they are planning to increase their foothold in a few other auto sectors.
The Component sector isn't doing great for Escort group and currently contributes up to Rupees 130 crores. To rebuild their their business they have hired the services of Equirus Capital as a banker.
Escort is also contemplating shifting its manufacturing base from Faridabad in Haryana to Rudrapur in Uttarakhand. In an attempt to move ahead with its expansion plans.
The Escort group has confirmed their plans of expansion and restructuring their business; however, they stated it is still in the beginning stages. They are among the oldest auto component manufacturing unit in India and are planning to restructure themselves to keep up with modern times.
Escort had earlier tied up with Fichtel & Sachs for technical reasons, during early sixties when they had just started. The company generates revenue from its export of auto components over the world.
Escort currently is a major manufacturer of dampers, shock absorbers, telescopic forks and also McPherson struts. They plan to shift the manufacture of these components to their new Rudrapur facility.
Escort currently supplies auto component parts to Automobile giants like Aprilia, BMW along with Ducati. With the expansion they plan to get in more automobile companies to procure products from them.
They also provide their Farmtrac tractor in over 54 countries. Escort is also working on increasing its network in European markets.
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