Group, a leading manufacturer of automotive components in India, further
consolidated its presence in the Indian automotive safety systems vertical. It
announced the formation of a Tri-Party Joint Venture to merge the two joint
ventures of Joyson Safety Systems (JSS) in India. KSS Abhishek Safety Systems
Private Limited (KSSA) which is a Joint Venture of JSS with Abhishek Group is
being merged with Takata India Pvt. Ltd (TIPL).
TIPL is a joint venture between
Anand Group and JSS. The new tri party
joint venture will be called Joyson Anand Abhishek Safety Systems Private
Limited” (JAASS). The merger of the two entities is subject to approval of the
National Company Law Tribunal (NCLT).
the terms of the new joint venture agreement, Anand Group will be increasing
its stake to 30% in the combined entity JAASS from its current holding of 25%
in TIPL. The new shareholding structure of JAASS will be: JSS 65%, Anand Group
30% and Abhishek Group 5%.
this merger, JAASS will have four manufacturing facilities in India- 1)
Neemrana, Rajasthan; 2) Kancheepuram, Tamil Nadu; 3) Manesar, Haryana and 4)
Pune, Maharashtra. Manesar plant also houses a state-of-the-art R&D
facility at par with any such facility globally. JAASS is poised to become a
leading supplier of safety-critical components such as airbags (all types-
driver, passenger, side, curtain etc.), seat belts (front and rear) and
steering wheels to all major OEMs in India and is projected to achieve a
turnover of Rs. 1000 crore by 2023.
Joint Venture will become a platform for our safety products business to
broaden our product offerings in India and increase our market share in one of
the fastest growing automotive markets in the world. Bundling our world-class
capabilities and strengths, we are well positioned to significantly enhance
mobility safety in India and to further contribute to saving lives.” said Guido
Durrer, President and CEO of Joyson Safety Systems.
Anjali Singh, Executive Chairperson of Anand Group,
said, “Anand group has made substantial investments to increase its equity
stake in the safety products business in this joint venture with JSS and
Abhishek. This move is a very strategic one for us especially in light of the
stringent safety norms which have come into effect for the automotive industry
in India. With Joyson Safety Systems
being a global leader in the auto safety parts business, the merger will help
JAASS to offer state-of-the art technology, widest product range and best
service to all leading OEMs in India and thus to attain a leadership position”.
merger of the companies is a strategic initiative taken in the best interests
of Indian customers giving them access to the best design and quality in safety
products. We look forward to continuing our relationship with our old and
trusted partner Joyson while building on a new relationship with the Anand Group”
said Dhiraj Dhar Gupta, Chairman, Abhishek Group.
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