Tube Investments is planning to expand its capacity for manufacturing of tubes under its engineering business, to meet its expectations to grow at 20-25% a year in this business. In this regard, the company will be investing around Rs 40-50 crore this year and the plans for a larger capex would be ready by the beginning of 2017, according to senior management officials.
Every year the company spends around Rs 70-75 crore of capex in this business and the company expects to spend another Rs 40-50 crore, for debottlenecking.
Tube Investments of India is the flagship company of the Murugappa Group with multiple businesses ranging from diversified auto-ancillary products, bicycle retailing to financial services and insurance.
