Source: The following is excerpted from a Diario de Navarra post on the growth projections for Spanish auto-parts producer Seinsa Corporation for the upcoming year.
EUGI, Spain – The Navarrese group Seinsa Corporation, a producer of brake components, expects growth of 40 percent during the next three years, primarily to expansion into the Indian and American markets.
The company exports 98 percent of the products it produces to countries on five continents. Its product portfolio covers some 83 automotive brands.
Despite the downturn in the overall automotive industry, with an average decrease in 2020 of 11.2 percent, Seinsa Corporation has maintained its turnover at the same rate as in 2019, with €30 million in revenues divided amongst Autofren Seinsa, Autofren Seinsa India and Joycar.
SEINSA ABS Sensor, New Product New Technology
In addition, the group has maintained its 300-person staff despite the increase in unemployment throughout other parts of the industry Spain.
By companies, Autofren Seinsa’s turnover of €22.5 million euros stands out , with an annual growth of 10 percent since 2015. This company expects to improve sales because the delay in renewing vehicles will benefit the spare parts market.
The company might export to 80 countries, but 80 percent of its turnover is centered in Eastern Europe (Poland, Czech Republic, Russia and Belarus) where the meteorology causes an accelerated deterioration of the brake systems which accelerates the need for replacements and, thus, export of parts to this region.
Seinsa Corporation will quadruple production turnover at its Chennai, India plant to expand in that region and expand into America from Mexico, where the team is already working on new strategic developments.
The Navarrese group allocates €4 million per year to high performance innovative teams (EARI) and in 2020 created the research & development department for strategic development and new businesses made up of young and multidisciplinary professionals under the direction of Mikel Azcárate.
Due to its annual turnover and its sustained growth, Seinsa Corporation has been invited to Automechanika Frankfurt 2021, the most important automotive spare parts fair in Europe, which will be held from September 14 to 18 in Germany.