KOSEI NEW JOINT VENTURE IN INDIA |
TITLE : KOSEI NEW JOINT VENTURE IN INDIA
SUB TITLE : Joint Venture with INDIA NK MINDA Group
Kosei Aluminum Co.,Ltd.(KOSEI) has concluded its Joint Venture Agreement in India with MINDA Investment Ltd. during the signing ceremony last December 06,2010 held in its head office in Toyota City, Aichi Prefecture Japan. The signing was executed by the President and CEO of KOSEI, Mr.Shunkichi Kamiya and the Chairman and Managing Director of MINDA Investments, Mr.Nirmal K.Minda.
The Joint venture Company subject to the approval of the ROC (Registrar
of Companies) in India shall be named KOSEI MINDA ALUMINUM CO.,LTD. and
will be established in Southern India in Chennai. The JV Company is to
engage in the development, manufacturing and sales of aluminum alloy wheels
and precision aluminum die casting parts for major OE car manufacturers. The
Start of Production (S.O.P) is set to be in summer of 2012 with a set annual
volume of 300,000 pieces and from year 2014, it will increase to 600,000
pieces wheels annually.
The JV Company shall have an authorized capital of 500 Million Rupees with
an equity share of 60%-40% of KOSEI and MINDA respectively. The initial
investment will include latest technology which will manufacture international
quality parts. But the most important aspect is the available technology
in aluminum casting which KOSEI will infuse in this joint venture and will
be of Japan quality.
In order to cover the broad market opportunities in India, KOSEI and MINDA
will establish another Joint venture in outskirt of Gurgaon in Northern
India and in this case, MINDA will hold the majority share.
KOSEI has strong base supply from its overseas companies in China, Philippines
and Thailand. At the moment, KOSEI Japan and overseas has a combined annual
production capacity of 3 Million pieces wheels and due to the repid growth
in the market in India, the development of this fourth base in the overseas
is very necessary.
NK MINDA Group Homepage : http://www.mindagroup.com/
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