With an eye to the large and growing market for their products, Indian auto component and tyre companies are making a beeline to set shop in Europe (especially Eastern Europe). Just last month Apollo Tyres announced that it was setting up a euro 200 million green field venture outside Hungary. And Delhi based Amtek Auto will set up a production base which will come in to operation in 2009 in Romania.
Sona Koyo, India's largest car steering system maker, on Friday announced the acquisition of 21 per cent stake in Fuji Autotech France for Euro 5 million to gain a toehold in Europe.
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