Trailer axles manufacturer York Transport Equipment India, a part of the TATA Group, is eyeing a 30% revenue growth this fiscal on the back of growth in the industrial sector.

York Transport Equipment Asia became a part of the TATA Group after TATA Robins Frazer acquired a majority share holding in the company recently.

Mr GS Chatterjee COO of York Transport told PTI that "The domestic industrial sector is on a growth trajectory. And without trucks and trailers it is not possible to think about industrial development and also the massive progress of the respective sectors. As axle manufacturers we see a huge growth potential and expect our revenues to grow by nearly 30% every year.”

Mr Chatterjee said that "We enjoy nearly 26% share in the axle market and with the kind of products we offer, the share will continue to grow in the coming years adding the trailer segment is growing at around 40% annually.”

Mr Chatterjee said that Singapore headquartered company, which has two manufacturing units in India at Jamshedpur and Pune has set up an R&D facility in Pune to serve the global demand,

He added that "We have made an investment of about INR 20 crore to set up a plant and INR 3 crore for an R&D centre. We plan to shut operations at the Jamshedpur factory and shift the manufacturing to Pune. We want to consolidate our business as we want to focus on the Western region, especially Maharashtra and Gujarat where industrial development is rampant.”

He further said that "We will continue to enhance the capacity to cater to the growing demand. We will make an additional Rs 10 crore investment next fiscal.”

At present, the market size of is 28,000 trailers a year.

(Sourced from ET)