Nabtesco Automotive Corporation, a Japanese market leader in air brake components has entered into a Joint Venture in India with Uno Minda, part of the NK Minda Group, for designing, manufacturing and sale of air brake products for commercial vehicles and clutch products for passenger vehicles.
The Joint Venture will be set up with equity of Rs. 37.3 crore in a 51:49 partnership with Uno Minda holding 51 per cemt and Nabtesco holding 49 per cent of the equity.
J. Sagar Associates advised Nabtesco with a team led by Partners Jyoti Sagar and Rohitashwa Prasad, Senior Associate Abhishek Shinde and Associate Swetha Prashant.
Uno Minda was advised by its in house legal team.
The new company will be known as Minda Nabtesco Pvt. Ltd. The JV's manufacturing plant will be set up at Pantnagar, Uttarakhand, with start of production planned in July 2014. Both the partners are considering this JV as a major move as it will help them establish a new product line and explore new markets, according to the press release.
Nabtesco has been a pioneer in automotive brake systems in Japan for nearly 80 years.
Established in 1958, Uno Minda is supplier of Proprietary Automotive Solutions to Original Equipment Manufacturers (OEMs) and has made contributions to the automotive industry supply chain with innovative products.