Uno Minda has inked a joint venture pact with Japan’s Kosei Aluminum Company to manufacture and sell alloy wheels in India.
The joint venture firm, Minda Kosei Aluminum Wheel, will come up in Bawai (Haryana), to develop, manufacture and market aluminium alloy wheels for major car manufacturers. For the first phase of production, the total investment is Rs 200 crore, with an equity share of 70 per cent with Uno Minda, and 30 per cent with Kosei Aluminum Co.
The start of production is planned from February 2016, and the first phase will have a capacity of 60,000 units per month.
Also, the company has confirmed business from Maruti Suzuki and is in an advanced stage of discussion with Mahindra & Mahindra.
More Project Info:
Aluminium Alloy Wheels (Bawal) Project [Phase-I]