Bangkok--7 Dec--Aziam Burson-Marsteller
Honda Motor India Pvt. Ltd (HMI), a wholly-owned subsidiary of Honda Motor Company, formally began its operations today from its corporate office in Greater Noida, UP.
The plan to set up HMI was first announced in July this year by Mr. Takeo Fukui, President and CEO, Honda Motor Company, during his visit to New Delhi.
The formation of HMI is part of the overall strategy to strengthen and integrate operations of Honda companies in India with respect to spare parts.
HMI will begin operating immediately by taking over the parts operations of Honda Siel Cars India (HSCI). It will gradually integrate the operations of Honda Siel Power Products and Honda Motorcycles & Scooters India Ltd.
HMI will study the possibility of establishing a similar synergistic relationship with the fourth Honda company, Hero Honda Motorcycles Ltd., in the near future.
Starting with a capital is Rs 15 crore; HMI has targeted a turnover of Rs 180 crore for the 2007-08 financial year.
HMI will have a new warehouse facility to stock parts for motorcycles, automobiles and power products and will share other common resources such as transportation, logistics and system development to help improve cost and operational efficiencies by up to 20%. This will ultimately result in overall benefits to customers by way of quality services like delivery within 24 hrs and other cost advantages.
Mr. Masahiro Takedagawa, Operating Officer, Honda Motor Company, who is also the President and CEO of HSCI, will head the new company as its President & CEO.
Company Information
Name: Honda Motor India Pvt Ltd.
Established: Sept 18, 2006.
Starts operation: Dec 1, 2006
Location: Honda Siel Cars India Ltd., Plot No. A-1, Sector 40/41,
Surajpur-Kasna Road,
Distt. Gautam Budh Nagar (UP) - 201306
Capitalization Ratio: 100% Honda Motor Company Ltd.
Total Investment: About Rs 15 crore
President & CEO Mr. Masahiro Takedagawa
Employment: About 40 associates
Business: Parts operations
About Honda
Honda is one of the world’s leading producers of advanced technology mobility products. It is the world’s largest manufacturer of clean, fuel-efficient internal combustion engines and the largest producer of motorcycles in 130 facilities in 28 nations worldwide. In 2006, Honda expects to serve over 23 million motorcycles, automobile and power product customers.
Media information, please contact:
Asian Honda Motor Co., Ltd.
Waraporn Pongpaiboon Tel. (0) 2236-0256 ext 1552 Email: [email protected]
Chutimont Jaidee Tel. (0) 2236-0256 ext 1553 Email: [email protected]
Media information, please contact:
Aziam Burson-Marsteller
Jaruwan Vorarakthananune Tel. (0) 2252 9871 Email: [email protected]
Satida Srithunyatorn Tel. (0) 2252 9871 Email: [email protected]