Best Group has formed a 50:50 JV with
Koki Technik Transmission Systems to manufacture transmission shifting parts in
India.
The JV company is named as Best
Koki Automotive Pvt Ltd and both the partners will be investing Rs.40 crore
each in the JV. The transmission shifting products (gear boxes) will be
manufactured at Best Group's production unit at Gurgaon and will be available in
the market from 2009.
The manufacturing capacity being
installed will be around seven-lakh units annually. While the major portion of
the production will be sold in India, the company will also export components
and sub-assemblies to Koki Technik. Initial exports will start in this financial
year (April 2008-March 2009) for which the joint venture company has already
received the order for 1.3 lakh units from Koki Technik, Germany.