04/03/2020 | Corporate
NEW PUSH FOR ATHENA PRODUCTS IN INDIA
Athena group continues its path of international expansion by signing a licensing agreement with Accurate Products Corporation, a leading company in manufacturing of precision components for the automotive industry based in Chennai – India.
The agreement provides that Accurate deals with the production in India of components for power transmissions, powertrain, agricultural machines and hydraulics, such as magnetic plugs, breather plugs and level indicators, which Athena designs, manufactures and distributes under Nostrali brand.
The choice fell on Accurate as a solid and structured partner, IATF 16949 certified, already supplier of automotive OEMs for more than 60 years and specialized in the supply of articles with a production process comparable to Nostrali products.
The first phase of this agreement will be the transfer of technology and know-how from the Athena Headquarters to Accurate. In a short time, the Indian company will be ready to produce items with Italian technology and know-how at competitive prices.
The second phase will instead be followed by Athena India, the Indian division of Athena, which will have the exclusive distribution of products and therefore the appropriate tools to attack very competitive markets such as India and China.
“First of all, this is a big step towards our European customers who have plants in India” says Alessandro Tomasi, Athena Industries Chief Operating Officer. “Athena is strongly market oriented, and producing close to the destination market of the goods help us to be more responsive and efficient. It has always been our goal and with this agreement we are confident that we can seize many new opportunities. The experience of over 50 years of our brand Nostrali combined with the strong automotive production skills of Accurate are the perfect mix to succeed in such a wide but also competitive market like the Indian one”.
“We, at Accurate are very much delighted to sign licensing agreement with Athena for manufacture of Nostrali products. It is an added opportunity to go global to showcase the legacy of our 60+ years of rich industry experience in manufacturing of precision components. We believe this collaboration would not only help both companies to leverage each other’s strengths, but also to offer a great value and service to the European companies based in India. We feel it is an important milestone in the history of Accurate to join hands with Athena for manufacturing of Nostrali Products in India and it is an honor to jointly work with them in serving key European customers here” says Anil Bammi, Managing Director of Accurate.