The new company resulting from this alliance, “Cikautxo Taurus Flexibles Pvt. Ltd.”, will be dedicated to the production of tubes for the Automotive market, a Mondragon statement says.
The company at present employs 200 people and has a sales forecast of of 9.5 million euros for the fiscal year ending March 2012.
This joint venture is a part of the globalization process which the cooperative is undergoing in order to meet the requirements of the key players in automotive manufacturing, who aim to set up a panel of suppliers able to offer global development and production. The new India plant will be the second Cikautxo facility in Asia, as this year production was commenced in China, in the plant located in the industrial park which MONDRAGON has in Kunshan, an area close to Shanghai.
Cikautxo, apart from its plants in the Basque Country and Aragón, also has production plants in Brazil, the Czech Republic, Slovakia, China and now India.
The Cikautxo Group, which develops and manufactures parts and groups in polymer materials for different applications, forecasts consolidated sales this year of 220 million euros, of which 85% will be from the Automotive market.
CIKAUTXO sets up a joint-venture in India (Mondragon)
CIKAUTXO starts production in China (Mondragon)