Sharda Motor forms JV with Japan's Toyo Seat
The JV, which is expected to begin commercial operations in August/September 2015, will manufacture four wheeler seat components for India & exports market
BS B2B Bureau B2B Connect | Mumbai
Sharda Motor’s Noida facility
Auto component maker Sharda Motor Industries Ltd has entered into an agreement with Japan’s Toyo Seat Co Ltd for forming a joint venture company, Toyo Sharda India Private Limited.
“As per said joint venture agreement, the Sharda Motor Industries Ltd has invested Rs 75 lakhs, being the subscription money for 750000 equity shares of Rs 10 each, and an equal amount has also been inducted by Toyo Seat Co Ltd,” said Sharda Motor.
The commercial production is expected to start from August/September 2015.
Sharda Motor is one of the leading manufacturers of exhaust system, catalytic converter, independent front suspension, seat frames, seat covers (two wheelers & four wheelers), soft top canopies, and pressed part - room air conditioners body etc.
First Published: Apr 10 2015 | 3:18 PM IST