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Auto component maker Spark Minda, Ashok Minda group today announced operations of its new plant in Mexico that will supply parts to Volkswagen group.
The new facility of Minda KTSN Plastic Solutions Mexico is a part of Minda KTSN Plastic Solutions, Germany (Minda KTSN) which was established in 2007 to oversee the European operations, the company said in a statement.
It is located at Queretaro Industrial Park, Mexico.
The green-field plant at Mexico specialises in manufacturing of interior automotive components such as glove box and panel parts for Volkswagen Group, it added.
Commenting on the development, Spark Minda, Ashok Minda Group Chairman & Group CEO Ashok Minda said the new plant showed clear commitment of the Group for the expansion of its activities in the region.
The new facility at Queretaro, which is Minda KTSN's 5th unit, has a total area of 8,500 square metre with manpower strength of around 130 employees.
It is targeting annual sales of 450 Mio Pesos (USD 24 million) from 2017-18 onwards, the company said, adding the plant has an additional 5,000 sq metre space in the similar premises for further growth.