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Wheels India and Topy Industries, Japan announce strategic partnership

Capital Market 

In passenger car steel wheels business in India

and Topy Industries, have reached an agreement regarding a strategic partnership in the passenger car steel wheels business in India, whereby Topy will invest a 26% stake in WIL Car Wheels, a wholly owned subsidiary of The investment will be made through new issue of equity shares by WCWL to Topy.

WCWL was set by WIL to carry on the passenger car steel wheel business in WIL has entered into agreements to transfer its entire passenger car steel wheel business carried out at its plants in Padi, Chennai and Bawal, Haryana, on slump sale basis, to the new company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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