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Uno Minda Board OKs JV with TACHI-S, Japan

For manufacturing and marketing of seat recliners for 4-wheeler vehicles in India

September 29, 2022 1:24 IST | capital market
The Board of Uno Minda has approved to enter into a Joint Venture agreement with TACHI-S Company (TACHI-S), a global seat system creator headquartered in Tokyo, Japan, for manufacturing and marketing of seat recliners for four wheeler passenger vehicle in India. The Joint Venture will offer various products including recliners in first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly. Uno Minda will hold 51% stake in the Joint Venture while the remaining stake will be held by TACHI-S . The joint venture will help expand Uno Minda its seating systems product offering in 4W Passenger vehicle as well. In first phase, the Board has also approved investment up to Rs 10 crore for recliner product which has qualified for business from Indian OEMs. Powered by Capital Market - Live News

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