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MACHINIST - N K Minda Group & Kosei Aluminum JV to manufacture alloy wheels in Chennai

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Home arrow News arrow Alliances and Joint Ventures arrow N K Minda Group & Kosei Aluminum JV to manufacture alloy wheels in Chennai

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N K Minda Group & Kosei Aluminum JV to manufacture alloy wheels in Chennai
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Written by Anand   
Monday, 20 December 2010

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New Delhi: Auto Component manufacturer, the USD 380 mn N K Minda Group has formed a Joint Venture (JV) with Japan's Kosei Aluminum Co., Ltd., a manufacturer of Alloy Wheels. The JV Company is to engage in the development, manufacturing and sales of aluminium alloy wheels and precision aluminium die casting parts for major OE car manufacturers.

KOSEI MINDA ALUMINUM CO. LTD., the JV company will be established in Chennai with a capital outlay of 5 billion rupees (Approx. 10 billion yen). The JV partners will invest 8.4 billion rupees (16 billion yen) - 40% by Kosei Aluminum Co., Ltd., 20% by Kosei Aluminum (Thailand) and 40% by NK MINDA Group. The Start of Production is set to be in summer of 2012 with a set annual volume of 300,000 pieces and from year 2014 it will increase to 600,000 pieces wheels annually.

Masayoshi Inomata (currently, Trustee member of Board) will be the Chief Executive Officer of Kosei Minda Aluminum Co. Ltd. The JV company is subject to the approval of the ROC (Registrar of Companies).

The initial investment and the most important aspect of the JV is the availability of top-notch Japanese technology in aluminium casting, which KOSEI will infuse in this joint venture.

In order to cover the broad market opportunities in India, KOSEI and MINDA will establish another joint venture on the outskirts of Gurgaon in Northern India and in this case MINDA will hold the majority share.

N K Minda Group is a supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures Switches, Electric Mirrors, Horns, Lamps, Blow molding Components, Electronics & Sensors, CNG-LPG Kits, Batteries & Seats for Original Equipment Manufacturers (OEMs).
Last Updated ( Monday, 20 December 2010 )
 
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