UNO Minda forms JV with Japan's Kosei Group for alloy wheels

UNO Minda Group, a tier I supplier of automotive solutions to original equipment manufacturers (OEMs), has signed a joint venture agreement with Kosei International Trade and Investment Company Ltd, a part of Kosei Group – Japan’s leading alloy wheel manufacturer. While UNO Minda Group will hold 70% stake in the proposed joint venture, Kosei Group will own the remaining stake.
 
The joint venture company will set up a plant, located at Bawal (Haryana), for manufacturing and supply of alloy wheels for passenger vehicles. The cost of the project is estimated at Rs 200 crores. For the first phase, the commercial production of the plant is expected begin in February 2016 with a monthly capacity of 60,000 units.
 
UNO Minda already has a joint venture Kosei Aluminum Co, named Kosei Minda Aluminum Co Ltd, which was established in December 2010 to manufacture alloy wheels and precision aluminium die casting parts for major OEMs at Chennai plant.