Caption: N K Minda, Chairman & MD, Uno Minda Group & Eisuke Kato, President, Katolec Corporation during the Joint Venture Ceremony. Others in the photograph are J K Menon, Ravi Mehra & Naveesh Garg( Uno Minda) & Shinichi Sano( Katolec Corporation)
Minda Industries Limited, the
flagship company of Uno Minda Group has entered into Joint Venture (JV)
agreement with Katolec Corporation, Japan. The proposed name for the joint
venture company is Minda Katolec Electronics Services Private Limited which
shall be incorporated with MIL holding 51% and Katolec holding 49% of the
The JV Company is proposed to be set up in Pune, Maharashtra as an Electronic Manufacturing Services Company offering turnkey as well as job work solutions. The products to be manufactured would include high end electronics like Printed Circuit Boards (PCB) and Box Build Assemblies. The initial investment outlay is Rs 40cr.
Minda Industries Ltd. has an existing operations for Electronics manufacturing in Pune as (Sensors , Actuators & Controllers)SAC Division which currently serves 2Wheeler & 4Wheeler customers like Tata Motors, Mahindra, General Motors besides HMSI, Hero Moto Corp, Bajaj Auto, etc.
The JV Company is expected to achieve additional synergies in areas of product development & technology.