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Home arrow Alliances and Joint Ventures arrow Unitech Machines announces JV with Magneti Marelli
Unitech Machines announces JV with Magneti Marelli Print E-mail
Written by Ganesh   
Wednesday, 17 September 2008
Magneti Marelli and Unitech Machines Limited have signed an agreement for the creation of a joint venture aimed at the manufacturing of motor vehicle electronic system in India with a digital technology.

According to the agreement, the new company will be 51 percent owned by Magneti Marelli and 49 Percent owned by Unitech Machines Limited. The Joint venture is set to be operational by the end of the first quarter of 2009.

The industrial facilities will be located in Manesar- in the industrial district of Gurgaon within the NCR of Delhi- in an area strategic to the automotive sector and where Magneti Marelli already has two other joint ventures in place for the production of engine control units and exhaust systems respectively.

The activity will be aimed specifically at the design, production and assembly of motor vehicle electronic components, such as instruments clusters, body electronics (control units that manage main vehicle functions) as well as telematic devices.

The activities of the JV will be addressed to local and international carmakers operating on the Indian sub continent.

Unitech Machines Limited is a company in India in the two wheel four wheel vehicle components sector, and it is also part of the Unitech Machines Limited group chaired by Mr. V.K. Chhabra and operating in various sectors, such as Power, Telecom, Automotive and Infrastructure.

Eugenio Razelli, CEO of Magneti Marelli, stated :  “ We have created five joint ventures in less than one year in a crucial market such as India, thus completing our localization plans in that country.   This an important result that bears witness to our ability to be present in emerging markets and to our flexibility in supporting carmakers in key production areas for their global activity.   We have reproduced the entire perimeter of our activities in India’s main automotive districts, from powertrain to lighting, from exhaust systems to shock absorbers and now electronic systems too.   For this fifth joint venture, we found in Unitech Machines the ideal industrial partner with whom to develop our business in a strategic sector such as instrument clusters and electronics , which also includes telematics”.

Mr. V.K.. Chhabra, CMD of Unitech Machines Group said,   “This joint venture will take forward the Indo-Italian bilateral relationship and revolutionize the automotive components business with the introduction of digital technology by our partners and help us to expand our niche market by providing a better product to the customers”. He further added, “It would be a wonderful learning experience from our partners.”

Mr Sushant Chhabra, the Joint Managing Director of the Unitech Machines group added, “this JV will put Unitech Machines auto division in the high technology space for auto motive electronics. We would be adding value to all new generation launches of OEMs to fulfill their electronic needs for futuristic instrument clusters, body computers and telematics. MM global expertise will be available thru this JV and we look forward to our customer support”.

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