Japan-based Kasei Group and Minda Industries Limited (MIL), the flagship company of Uno Minda Group, have entered into another joint venture (JV) agreement for manufacturing moulds for alloy wheel. Minda Industries will hold 49.9 per cent stake in the JV, to be named Kasei Minda Mould Pvt Ltd, while Kasei Group will hold the 50.1 per cent of the equity.
Kasei Minda Mould is planning to set up a facility in Bawal (Haryana) for the production of moulds for alloy wheel. This is in line with Uno Minda Group strategy to invest in capability building & develop competitive edge. Uno Minda 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 initial investment outlay is Rs 25.50 crores. The first phase of mould plant is expected to be commissioned by April 2019.
The JV company is expected to achieve additional synergies in areas of product development & technology which will result in stronger customer footprints.Nirmal K Minda, CMD, Minda Industries Limited, commented, “With mould manufacturing technology, we are taking a step further to integrate and strengthen end to end process of alloy wheel technology. This joint venture will help Uno Minda group to further strengthen its product offering and offer value added products to end customers.”
Kosei Aluminum Co Ltd is a leading manufacturer of alloy wheels in Japan with head office in Toyota City, Aichi Prefecture.
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