Monaco auto equipment manufacturer opens new plant.

Mecaplast has invested around 5.3 million euros in a new manufacturing facility in Mahindra World City, Chennai. The plant is to make a range of plastic engine and body parts for international auto companies. Originally established in Monaco, Mecaplast is present in 14 countries, and has some 5800 employees, 40 of which are in the new Chennai plant.

Mecaplast opens Indian facility in Chennai

In January 2010, new CEO Christine Benard spoke about the company's plans for recovery from the recession, mentioning India as a key to future market growth. The automobile industry has suffered enormously from the world economic crisis, with world production dropping by 14% in 2009 and French production faring even worse at 18%. Bernard was nonetheless optimistic about 2010, estimating industry sales growth of 4%, although this would not be in western Europe.

Mecaplast also faced a difficult 2009, with worker unrest due to cost cutting measures. Some of the 168 workers in Monaco were made temporarily unemployed as orders started to drop.

Outlining plans for 2010, Bernard mentioned:

• strengthening links with historical clients such as Renault and PSA Peugeot Citroen
• continuing to work with Toyota
• developing the German market
• ambitions in China and India

Christine Benard : we'll put everything in place for recovery