Minda Industries has received an approval for acquisition of 80% of equity capital of iSYS RTS GmbH (iSYS) based in Germany. iSYS is a niche player engaged in systems engineering, development of hardware and software with product and services offering in embedded systems, Electronic Control Unit. The The acquisition is in line with strategy of the company to increase its offering/kit value. This will also improve export prospects from India to EU and ASEAN nations. The Board of Directors of the company at its meeting held on July 13, 2018, approved the same.
The Board has also approved to enter into Joint Venture (JV) agreement with Kasei Group, Japan. The proposed joint venture company shall be incorporated with the company’s holding 49.9% and Kasei Group holding 50.1% of the equity. The JV company is expected to achieve additional synergies in areas of Product Development & Technology which will result in stronger customer footprints including both OEM as well as end Customers.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
