MACHINIST.IN


Magna Seating and Krishna Group form Joint Venture in India
Written by Viswanath   
Thursday, 06 August 2009
New Delhi: Magna Seating, an operating unit of Magna International Inc., and Krishna Group of India announced today the formation of a 50/50 joint venture, called MSKH Seating Systems, to produce complete seating systems and seat mechanisms for automakers.

MSKH Seating Systems, will operate from Chakan (near Pune, Maharashtra) and aims to start production within the next 12 months.  Magna Seating brings in cutting-edge technology and proven processes.  Magna Seating will also bring exclusive engineering support to the joint venture.

"Aligning ourselves with the Krishna Group allows us to engage automakers in the Pune region of India with a capable and competitive partner," said Deepak Nagaraja, Vice-President, Asia-Pacific Operations, Magna Seating. "They are a high-volume manufacturer of seating systems with a strong and established supply base. We look forward to many successes as we enter into this venture together."

Krishna Group, one of the largest complete seat suppliers in India, will provide competitive manufacturing strength and in-depth experience of the domestic automotive industry.

"We are excited to form a joint venture with Magna Seating, they are innovative, world class supplier and bring valuable engineering and product delivery expertise to the India market," said Ashok Kapur, Chairman, Krishna Group. "By combining our resources we are able to offer Pune-area automakers with the latest in seating technologies at a competitive price."

The joint venture marks the initial entry of Magna Seating into India.

Magna Powertrain, Magna Mirrors, Magna Steyr, Magna Closures and Cosma International are the other Magna International operating groups which have operations in India.

 
Related news
More recent
Earlier on