Basis Mold India to begin operations
A joint venture for plastic injection tools inaugurated in Chakan
Pune: Basis Mold India Pvt Ltd was inaugurated on Thursday at Chakan. This will be dedicated to medium and large plastic injection tools for the automotive market, both for local and export needs.
The facility is a joint venture started by Faurecia Automobile, Kraftsman Tooling and Silver Basis.
Faurecia Automobile deals is an automotive parts manufacturer for vehicle interiors and emission control technology. Kraftsman Tooling is a Pune- based injection mold making company. Silver Basis Technology Co Ltd deals in developments and production of large precision injection moldings and precision structural parts for the automotive and communications industries. Silver Basis is the majority shareholder and will manage the company.
Speaking at a press meet, George Joseph, General Manager of Basis Mold India Pvt Ltd said, “On March 25, the company’s operations will start. There are 80 recruitments of Indian employees and would double that in next two to five years. We have made an investment of Rs 50 crores and hope to double our capacity in 3 to 5 years at 120 molds per annum. The current revenue target would be Rs 70 crore for the next three years.”