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Tube Investments of India Ltd, part of Rs 22,500 crore Murugappa Group has formed a joint venture agreement with Tsubamex of Japan, a reputed designer & manufacturer of sheet metal stamping dies for the automotive industry and white goods sector.
The Joint Venture in India between TII and Tsubamex, to be incorporated as TI Tsubamex Ltd will be a 50–50 venture.
The company will be incorporated with an overall share capital of Rs 7 crore and the JV will target large sheet metal stampings die design and engineering. Under the JV, engineers will undergo extensive theoretical and practical training at Tsubamex, Japan.
"The training will cover die design and process engineering and will prepare the design engineers to independently handle assignments at the JV in India. The company expects that this would usher in early customer confidence and pave the way for world-class die manufacture in India. The JV will seek opportunities not only with the growing automotive sector but also white goods industry. The company says that competency building in dies design and process engineering will be the key differentiator and the formula for success of the new JV," said the company.
Tube Investments, a leading auto components manufacturer, serves this sector with a suite of products offers wide range of precision steel tubes, speciality cold rolled strips, roll formed and precision fabricated door frames for most Indian made cars and precision fine blanked parts for critical automotive sub systems. The company also holds a key position in the two wheeler segment with its array of drive chains & sprockets, timing chains and telescopic fork tubes.
Tsubamex is a niche player in the Japanese sheet metal stamping die industry. The company’s President Mr H Gai has pioneered the use of CATIA software in Japan for die designs and has developed his company’s own system for design process control. Tsubamex enjoys the trust and associated business from many leading Japanese auto makers.
