Minda Industries, the flagship company of UNO Minda Group, has entered into another Joint Venture (JV) agreement with Kosei Group, Japan. The proposed name for the joint venture company is ‘Kosei Minda Mould’ which shall be incorporated with MIL holding 49.9% equity and Kosei Group holding 50.1% of the equity.
The JV company is proposed to be set up in Bawal, Haryana as for manufacturing moulds for alloy wheel. This is in line with group strategy to invest in capability building & develop competitive edge. This JV will also provide access to high end technology and world class tooling capability. The initial investment outlay is Rs 25.50 crore. The first phase of Mould plant is expected to be commissioned by April 2019.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
