MUMBAI, May 16 (Reuters) - Steel tubes and bicycle maker Tube Investments of India Ltd. plans to spend 2.5-3 billion rupees in 2007/08 to set up a chains and tubes plant and expand auto parts capacity, a senior official said on Wednesday.
The company is also looking at acquiring hydraulic cylinder tube makers and large-conveyor belt capacities abroad to spread business risk between auto and non-auto segments, Chief Financial Officer K Balasubramanian told Reuters in an interview.