Minda Industries Board Approved Joint Venture Company With Kasei Group, Japan
Minda Industries Limited has informed that the board of directors of the company at its meeting approved to enter into another Joint Venture (JV) agreement with Kasei Group, Japan. The proposed joint venture company shall be incorporated with Company's holding 49.9% and Kasei Group holding 50.1% of the equity.
The JV Company is proposed to be set up in Bawal, Haryana for manufacturing moulds for alloy wheel. This is in line with group strategy to invest in capability building & will provide a competitive edge to the Company. The Company will strongly benefit from the technology for Designing, manufacturing of Moulds for Alloy wheels and polishing of wheels. This JV will also provide access to high-end technology and world-class tooling capability.
The JV Company is expected to achieve additional synergies in areas of Product Development & Technology which will result in stronger customer footprints including both OEM as well as end Customers.