Able Spring Manufacturers plans to expand capacity
Chennai-based Able Spring Manufacturers will expand the capacity of its plant at Oragadam, near Chennai, to meet the growing demand from its customers across the country. The company has to supply to Greaves Cotton 2-3 lakh highprecision springs, valve springs and suspension springs every month. It has bagged orders from the Rane Group for around 2 lakh components for its Bawal plant in Haryana. Able Spring is also working on to supply 250-500 kg of 2D wire forms to Devendra Exports Private Ltd.
“We have bagged new orders from Greaves Cotton which is our major customer now. We are going to supply 37 kinds of springs to them. The quality of our springs and their variety have helped us get the new orders. We have a qualified team to manufacture all kinds of springs. Currently, we are supplying around 80,000 wire forms a month to Lear Automotive India Pvt Ltd., Sundaram fasteners, Rane NSK, and Rane TRW. We supply exquisite quality springs to our customers,” Philip Varghese, Managing Director, Able Spring Manufacturers, said.
The company is planning to invest in capacity expansion and in modernising its machinery. It is investing Rs 4-5 crore towards new machinery, which will help to localise the raw materials. Presently, it is importing its raw materials from Korea, China and Spain, but after the expansion, it expects to manufacture on its own. The firm, which had Rs 3 crore turnover last year, is expecting 30% increase in FY 17-18. The company expects that the new orders would help it achieve the projected level of revenue.
“We are trying to localise the raw materials as there are only 50% of spring manufacturers in India who are localising their products. The others depend on imports. The ‘Make in India’ plan enables all the OEMs and the component makers to opt for 100% localisation. So, our plan to expand our capacity is to enhance production and for the 100% localisation of our raw materials,” he said.
“Our vision is to achieve customer satisfaction through continual innovation, produce quality products and timely delivery yet holding firmly on honesty and genuineness. We as a dedicated team offer customised solutions by integrating our knowledge with on-going technical innovation and deliver products that maximise value for our customers. The equipment and methods are being modernised to increase our productivity and quality level. We want to satisfy our customers and achieve the economic success of our company for the future as well,” Philip Varghese added.
Wide range of springs made by Able Springs Manufacturers
Philip Varghese, Managing Director, Able Spring Manufacturers