USD 361 mn NK Minda Group, the technology leader in Auto Components Industry, has entered into a 82.1:5:12.9 Joint Venture (JV), with Toyoda Gosei Co., Ltd., Japan and Toyota Tsusho Corporation, Japan. The JV Company, to be named Toyoda Gosei Minda India Pvt. Ltd, subject to ROC approval, will develop, manufacture and sell automotive safety components like Steering Wheels, Airbags and Body Sealing parts for major Indian car manufacturers. The new JV was signed off by Nirmal K Minda, CMD of Minda Industries Limited., and T Arashima, President of Toyoda Gosei Co., Ltd., Japan in end October.A key feature of the JV is the availability of top-notch Japanese technology of ‘Integrated Rubber Parts Production’, which Toyoda Gosei will bring to this joint venture, in order to ensure its cost competitiveness in the Indian market. This process is targeted to start production from May 2012 in Neemrana plant, where manufacturing of safety parts is already ongoing. The JV will also establish a new plant in Bangalore within two years.

NK Minda Group, the USD 403 mn technology leader in Indian Auto Components Industry, has inaugurated its new plant in Manesar, Gurgaon. This plant will use a superior quality Japanese process, for production of painted wheel covers for Indian OEMs manufacturing four wheelers. NK Minda Group has invested approx. Rs. 5 crores (USD 1 million) in this plant. The start of production (SOP) is set to be in January 2012 with a set annual volume of 1, 20,000 pieces and installed capacity of 6, 00,000 pieces wheels annually. However within the same space and paint facility and with increase in moulding machines, capacity can also be enhanced to thrice over. The plant is expected to reach the break-even point by the year 2013-14.The production and sale of these wheel covers will be taken care of, by two separate JV companies. Mindarika Pvt. Ltd. (MRPL), a group company of NK Minda Group, will manufacture the painted wheel covers, and Tokai Rika Minda India Pvt. Ltd. (TRMN) will be responsible to supply it to OEMs. MRPL and TRMN are existing Joint Ventures between Minda Industries Limited and Tokai Rika, Japan.

N K MINDA Group, the USD 380 mn technology leader in Auto Components Industry, and Kosei Aluminum Co., Ltd., a leading manufacturer of Alloy Wheels in Japan, announced the formation of 40:60 equity Joint Venture (JV). The signing ceremony on December 6, 2010 was held in Kosei's head office in Toyota City, Aichi Prefecture, Japan. The JV Company shall have an authorized capital of 500 million rupees. The Joint venture company, subject to the approval of the ROC (Registrar of Companies), in India shall be named KOSEI MINDA ALUMINUM CO. LTD., and will be established in Chennai. The JV Company is to engage in the development, manufacturing and sales of aluminum alloy wheels and precision aluminum die casting parts for major OE car manufacturers. The Start of Production (SOP) is set to be in summer of 2012 with a set annual volume of 300,000 pieces and from year 2014 it will increase to 600,000 pieces wheels annually.

M J Casting Limited is a joint venture of N K Minda Group and Jay Bharat Maruti ( JBM) Group. A state of the art manufacturing plant is being set up in Bawal, Haryana for producing Pressure Die Casting parts for Auto OEMs. In the first phase, the manufacturing facility infrastructure will include PDC Machines upto 900 ton, CNC machining centres and Liquid paint shop & pre-treatment line - Spray P.T. along with excellent inspection, testing and lab facilities.The plant is expected to commence production from July, 2011.