ASAL will undertake capacity expansion at Chakan.
Mumbai: Automotive Stampings and Assemblies Ltd (ASAL), the joint venture company of Tata AutoComp Systems' and Gestamp Servicios, S.L, has announced setting up a new manufacturing unit in Pantnagar, Uttarakhand, with an investment of Rs 48 crore. ASAL would also look at a capacity expansion at Chakan with a Rs 21-crore investment, according to a company statement.
ASAL is a sheet metal components and assemblies manufacturer for the automobile industry. It expects to complete both the activities by the last quarter of the current financial year.
Gestamp Servicios, S. L., recently acquired 37.5 per cent equity shares, as a joint venture partner with Tata AutoComp Systems Ltd, in ASAL.
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