IFB Industries, originally known as Indian Fine Blanks, started its operations in India during 1974 in collaboration with Switzerland’s Hienrich Schmid AG. The product range includes fine blanked components, tools and related machine tools like straighteners, decoilers, strip loaders and others.
The engineering divisions of the company are located at Kolkata and Bangalore. The Bangalore unit, apart from fine blanked components, manufactures motors for white goods as well as automotive applications. It also has an ultra modern plant under subsidiary European Fine Blanking at Wrexham, Wales, UK.
It had recently acquired a microwave oven plant at Bhopal, which is being upgraded for increased production of better microwave ovens and plans to start a new line in dish-washers.
The Bangalore and Kolkata works are ISO 9001 and QS 9000 certified by TUV SDI. The Bangalore unit has been certified for TS 16949 by TUV SDI.
The launch of fully automatic washing machines in 1990, jointly with Bosch, Germany, marked IFB's entry into the white goods sector.
IFB is the premier Fine Blanker in India having Fine Blanking Presses, with capacities ranging from 90T to 800T.
The company has excellent facilities for tool design and tool making enabling it to meet up the expectations of all the automobile manufacturers in the country as well as some overseas customers, by supplying high quality fine blanking components on schedule.
Its philosophy is to deliver the parts in fully finished conditions at the customers' delivery point. Its mission is to be an enabler to the customer in design of the components during initial stage of product development
IFB has a research and development centre equipped with high-end software’s like Solid modelling, CATIA, FEA and Mold Flow for the design and analysis of various products. Besides it also has highly skilled and experienced tool designers designing fine blanking parts and tools to international standards.
The company’s international business division has become a recognized Export House dealing in not only IFB's own products but also third-party exports.
The company’s customers include Maruti Udyog, Ford India, Fiat India, Toyota Kirloskar Motors, Lucas TVS, Brakes India, Autoliv India, Rane TRW, IFB Automotive,
Germany’s Takata Petri, BorgWarner, Avtec and Bosch chasis.
IFB, in collaboration with Germany’s RHW and Sweden’s Electrolux, has two joint venture subsidiaries -- RHW India and RHW Autoliv India -- to manufacture automotive seat recliners or seating systems and safety equipments.
The Committee of Directors of IFB Industries had recently allotted 68,00,000 equity shares of Rs 10 (at par) to IFB Automotive, a promoter group company. The promoters brought in above fund in line with the direction of Board for Industrial and Financial Reconstruction (BIFR) in the sanctioned scheme.