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Minda Industries form JV with Japan's Kasei Group for alloy wheel moulds

The initial investment outlay for the plant is Rs 255 million, and the first phase of the facility is expected to be commissioned by April 2019

Press Trust of India  |  New Delhi 

Minda, Japan's Kasei Group form JV for alloy wheel moulds

Auto component maker on Monday said it has formed a joint venture (JV) with Japan's for manufacturing moulds for

The proposed name for the JV company is Kasei Minda Mould Pvt Ltd, in which Minda would hold 49.9 per cent equity while would hold the rest 50.1 per cent.

The JV firm would be set up in Bawal, Haryana.

"This is in line with group strategy to invest in capability building and develop competitive edge," said in a regulatory filing.

The initial investment outlay for the plant is Rs 255 million, and the first phase of the facility is expected to be commissioned by April 2019.

"With mould manufacturing technology we are taking a step further to integrate and strengthen the end-to-end process of alloy wheel technology," CMD said.

Minda Industries shares were trading at 0.13 per cent higher at Rs 419.90 on the BSE.

First Published: Mon, July 16 2018. 14:42 IST
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