Minda Group in JV with France’s Valeo

The AK Minda Group, which makes auto components, has entered into a joint venture with French component major Valeo for manufacturing security systems for cars.

Both the partners expect to invest about Rs 75-80 crore in the next three years in the 50:50 joint venture. A K Minda Group chairman Ashok Minda said, “We expect the joint venture to clock about Rs 300 crore in the next three years. We hope exports to contribute about 20-25% to the total revenues.”The group’s consolidated revenues currently stand at Rs 300 crore. The joint venture — Minda Valeo Security Systems — would operate out of the group’s manufacturing facility in Pune.
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Courtesy:www.indiacar.net

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