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Rico Auto Industries Ltd (Rico) is into manufacturing of automotive components like clutches, oil pumps, diesel engine parts, flywheels, manifolds, brake discs, brake drums, engine mounting brackets etc. Rico supplies to companies like Hero Honda, Honda Siel, Shriram Honda, Maruti Suzuki and Tata Cummins in India and it has global clients like GM (US), Cummins (US & UK), Eaton (UK) and Matsusaka Engineering Co. (Japan). It was the first automobile component manufacturer to get ISO 9002 for its Gurgaon facility. Rico entered into a JV with Daewoo Precision Industries, Korea in 1996 as single source OE supplier to Daewoo in India and in other countries. Rico, in the year 1997, entered in a JV with FCC Co. (Japan) for supplying clutches. FCC is the OEM supplier to Honda, Yamaha and Suzuki in Japan. In FY00, Rico Agroil Ltd was merged with Rico.
Recent Developments: Rico Auto informed the BSE on 13th August 2002, that the board of directors in their meeting has expressed the intention for acquisition of auto component manufacturing companies in India and abroad. The company had fixed March 27, 2002 as the record date to determine the name of shareholders entitled to receive bonus shares in the ratio of 1:1.
Future Plans: Rico is planning to expand its capacities at Gurgaon plant by adding new moulding line and matching auxilary facilities at its Ferrous foundry. It plans to put up a high pressure die casting plant, which will have CNC controlled machines ranging from 250 to 800 tons for facilitating continuous and dedicated product lines from manufacturing of castings to dispatch of finished goods.
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