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Uno Minda forms JV with Toyoda Gosei Co

Tuesday, 09 Dec 2014
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Uno Minda has signed a joint venture (JV) agreement with Japan's Toyoda Gosei Co to manufacture and sell rubber hoses in India.


As per the agreement, the partners will set up a JV firm with an investment of Rs 85.3 crore, in a phased manner.


The JV will be known as Minda TG Rubber and will have an equity share of 51 per cent with Uno Minda; 44 per cent with Toyoda Gosei Co; and five per cent with Toyota Tsusho Corporation.


Minda TG Rubber will initially set up a manufacturing plant at Bawal, Haryana, and will start production in the third quarter of the fiscal year 2015.


Uno Minda and Toyoda Gosei Co already have an existing collaboration in India since 2011 for manufacture and sale of safety products -- steering wheel with airbags, and body sealings, with a manufacturing facility set up at Neemrana.

 

More Project Info:

Rubber Hoses (Bawal) Project

 
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