Leading helmet manufacturing company Studds Accessories on Monday said it has commissioned two new facilities at Faridabad in Haryana entailing a total investment of Rs 200 crore. Spread across an area of over 5.5 acres, the company has made an initial investment of over Rs 160 crore to set up the largest helmet manufacturing facility in Asia, Studds Accessories said in a statement.
Besides motorcycle helmets, including the Shifter and Thunder series, the facility will also produce bicycle helmets for the domestic market, it added.
The company said it has also commenced operations at another production unit which has an in-house production line for expanded polystyrene (EPS), which is the most important safety feature in a helmet. Spread across 1.5 acres, the company has invested Rs 40 crore in the second plant, marking a total investment of over Rs 200 crore in the manufacturing plants, Studds said.
"With the goal of expanding our production efficiency, our new plants would provide employment prospects for local citizens as well as add to the overall economic growth," Studds Accessories Ltd Managing Director Sidhartha Bhushan Khurana said. The new plants will have a production capacity of 75 lakh units of motorcycle helmets and 15 lakh bicycle helmets per annum, he added.
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The facilities will ensure direct employment for over 1,500 individuals, Khurana said. "Currently, we have just begun operations and are planning to ramp up production gradually. With the commencement of our new plants, we have doubled our production capacity from 7 million to 14 million units of motorcycle helmets," he noted.
With these new manufacturing units, Studds now has four manufacturing factories in the country, all of them located in Faridabad, Haryana. The company is currently exporting its helmets to more than 40 countries and the new plant is aimed at ramping up the exports. Studds also plans to introduce a new range of exciting helmets in this financial year, it said.
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