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Auto components maker Advik, plans foray in to four wheeler components segment. The company is investing Rs 35 crore in a new unit at Chakan near Pune in Maharashtra to manufacture five lakh units of oil pumps & tensioners per annum. The work on the new plant is expected to commence by April and completed in 12 months.

"We already have a fair presence in the two-wheeler market and our foray into the four-wheeler segment is intended to tap the growing car market and its demands," said Aditya Bhartia, MD, Advik Group of Companies.

The company has chalked out plans to invest Rs 15 crore in a new plant & upgrading its existing ones at Chakan & Pantnagar in Uttarakhand. The company will invest Rs 10 crore in a new plant at Pantnagar to cater to two-wheeler market in the Northern India and Rs 5 crore in upgrading its existing plants at Chakan and Pantnagar which have an annual installed capacity of 1.3 crore units.

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