Indian company chooses Santa Gertrudes to set up its first plant in the Americas and invests R$ 96 million

New engine components factory starts operations in late 2018, hiring 250 people over the next three years; Project relied on the support from Investe SP

Indian manufacturer of automotive components, Precision Camshafts Limited (PCL), announced this XX, January XX, its decision to set up its first manufacturing plant in the Americas in the city of Santa Gertrudes, approximately 180 km from the city of São Paulo.The plant will involve an investment of approximately US$ 30 million (about R$ 96 million), and should hire 250 employees by its third year of operation – 70 of them will be hired by the end of 2018.

The project relies on the support from Investe São Paulo, the investment promotion agency associated with the State Department of Economic Development, Science, Technology and Innovation, which has been advising the company in tax, environmental licensing and infrastructure matters.

The main product sold by PCL worldwide are camshafts.Currently, they are produced in factories in China and India.The decision to come to Brazil and to the Western side of the world is part of the company’s expansion plan.And in the case of Brazil, one of the major automakers that operates in the state of São Paulo has requested the nationalization of the factory to allow it to launch a new engine line.

 “The arrival of PCL is an example of the confidence of investors around the world in the growth of the auto parts market in Brazil,” said Sérgio Costa, Business Director of Investe SP.“Several companies like this one have realized that the market trend in the coming years is to grow, and that being in Brazil means taking one step ahead of the competition,” he adds.

PCL’s project also includes launching, in Santa Gertrudes, a platform for the supply of parts to engine manufacturers in other Latin American countries, especially Mexico.At the beginning, only camshafts will be produced, with samples ready before the end of the year.And depending on the market reaction, other production lines may also be brought to Brazil in the future.

About Precision Camshaft Limited

Headquartered in Solapur, Maharashtra, India, PCL was established for the machining of camshafts, in 1992. The product continued to be the flagship of the company, which has grown with takeover of shareholding from a British group and two joint ventures in China.Today, the company’s goal is to reach a 20% share in the camshaft market.Its operations are conducted in ten plants in total:eight in India and two in China.

About Investe São Paulo

Investe São Paulo – the Investment Promotion Agency of the State of São Paulo, associated with the Department of Economic Development, Science, Technology and Innovation, is the gateway for companies that intend to settle their operations in the state or expand their businesses.

The agency provides strategic information free of charge, helping investors find the best locations for their businesses, providing environmental, tax and infrastructure advice, facilitating the relationship of companies with government institutions and public utilities.All this with the purpose of promoting economic development and innovation in São Paulo.

Another important mission of Investe SP is to encourage exports from small and medium enterprises, also for free.The Agency is also responsible for prospecting new businesses for the state around the world, welcoming foreign delegations and promoting the image of São Paulo in Brazil and abroad as the main destination of companies in Latin America.

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