Minda Industries has entered into a new Joint Venture Agreement (JVA) with Kosei International Trade and Investment Company to develop, manufacture and sell alloy wheels in India. The proposed shareholding of the JV Company will be in the ratio of 70:30 i.e., UNO MINDA Group 70% and Kosei Group 30%. The proposed holding by the company (Minda Industries) can be up to 70%. This JV company is proposed to be named as ‘Minda Kosei Aluminum Wheel’.
The JV company will set up a plant at Bawal, Haryana. For its first phase of production, the JV is expected to invest Rs 200 crore and is expected to commence production with capacity of 60,000 units per month by 2016.
Minda Industries is engaged in the business of manufacturing switches and batteries for 2/3 wheelers and off-road vehicles.
