Auto parts: Steelbird to set up production unit in Bangladesh

Steelbird International has formalized a joint venture with TVS Auto Bangladesh to produce automotive filters in Bangladesh.

Steelbird International, the auto parts manufacturing company specializing in automotive filters, has said it will set up manufacturing operations outside of India. It has entered into a joint venture with TVS Auto Bangladesh to manufacture automotive filters in Bangladesh.

Steelbird manufactures air filters, oil filters, fuel filters and cabin filters, and had established an automotive filter factory in North India in 1964. “The partnership with TVS underlines the merging of two formidable brands, Steelbird and TVS, the former ready to start production in Bangladesh to cater to the growing aftermarket and OEM segment, while the latter draws on all the market experience and consumers in that region will facilitate go-to-market strategy, protocols, channel management, retail and OEM growth in Bangladesh,” the company said in a statement.

The company said it will produce automotive filters for all types of vehicles, from two-wheelers and three-wheelers to passenger cars, tractors and commercial vehicles.

Bangladesh has been one of the fastest growing economies in the world for the past decade, supported by a positive demographic dividend, strong ready-to-wear exports and stable macroeconomic conditions. The growth of the auto industry has steadily increased thanks to the socio-economic development and purchasing power of the country’s middle and upper middle classes.

This post Auto parts: Steelbird to set up production unit in Bangladesh

was original published at “https://www.financialexpress.com/express-mobility/components/auto-parts-steelbird-to-set-up-manufacturing-unit-in-bangladesh/2465125/”