Nabtesco Automotive Corporation, a Japanese firm specialising in air-brake components, has joined hands with Indian auto components manufacturer Uno Minda for design, manufacture and sale of air-brake products for medium & heavy commercial vehicles and clutch products for passenger vehicles.
NK Minda Group firm Uno Minda will have 51 per cent stake in the JV entity which will be set up with an equity of Rs 37.3 crore and will be known as Minda Nabtesco Pvt Ltd.
The JV agreement was signed on Dec 6, 2012, and the new manufacturing plant will be set up at Pantnagar, Uttarakhand, with production expected to commence in July 2014.
“Nabtesco is renowned for its technical excellence, exhaustive product expertise and extensive experience in Japan. With this partnership, we are strategically venturing into a new product line, in keeping with our diversification and consolidation approach to the Indian market,” commented NK Minda, chairman & managing director of Uno Minda.
Tokyo-headquartered Nabtesco Automotive, part of the Nabtesco Group, specialises in transport equipment business. Operating since 1937, Nabtesco Automotive is a supplier of automotive air-brake systems and clutch control systems. The firm also manufactures automobile components for original equipment manufacturers (OEMs).
Founded in 1958, Uno Minda has 30 manufacturing plants in India, Indonesia and Vietnam; design centres in Taiwan and Japan; sales offices in the US, Europe and Vietnam, and also has a strategic sourcing office in China. The firm has joint ventures with several other manufactures including Tokai Rika Co. Ltd, Kyoraku Co. Ltd, Faber Industries, JBM Group and Toyoda Gosei Co. Ltd, among others.
(Edited by Sanghamitra Mandal)