Nabtesco Automotive Corporation, Japanese market leader for producing air-brake components and leading Indian auto components manufacturer Uno Minda, NK Minda Group have announced a Joint Venture in India for designing, manufacturing and sales of air brake products for commercial vehicles and clutch products for passenger vehicles. The agreement was signed last week.
The joint venture will be set up with equity of INR 373 Million in a 51:49 partnership with Uno Minda holding 51 percent and Nabtesco holding 49 percent of the equity. The new company will be known as Minda Nabtesco Pvt. Ltd. The Manufacturing plant will be set up at Pantnagar, Uttarakhand, with start of production planned for July 2014.
