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Tata AutoComp, GS Yuasa form JV
By agencies
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Wednesday, 08 February 2006, 20:30 IST
MUMBAI: Tata AutoComp Systems Ltd (TACO) announced to form a 50:50 joint venture (JV) with GS Yuasa International Ltd, Asia's largest automotive battery manufacturer.
The company said, the new venture called Tata AutoComp GY Batteries Pvt Ltd with manufacturing facility near Pune. It will make hi-tech automotive batteries for OEMs and the retail market in India.
According to the official statement, The company will start operations with the entire range of four-wheeler automotive batteries and will also set up a national level sales, service and distribution network.
The total investment for the project was $20.45 million; $9.65 million being the equity component to be split evenly between the two partners. The remaining amount would be met through debt, it added.