米兰ac体育

米兰ac体育 Co., Ltd. and Furukawa Automotive Systems Inc. (Koura-cho, Inukami-gun, Shiga) (collectively “米兰ac体育 Group”) and Spark Minda, Ashok Minda Group announce signing of an Agreement for increase in equity stake by 米兰ac体育 Company Ltd. in Minda 米兰ac体育 Pvt. Ltd., Bawal, India.

Minda 米兰ac体育 Private Ltd. is a Joint Venture company of Spark Minda, Ashok Minda Group, an Indian Automotive Component Manufacturer. After the increase in equity 米兰ac体育 Group will raise its stake from 49% to 75% thus acquiring the management control of Minda 米兰ac体育 Private Ltd. Spark Minda, Ashok Minda Group shall continue to hold 25% stake and remain a joint venture partner.

米兰ac体育 Group intends to establish the management foundation forthwith under the initiative taken by this group and will expand automotive business in India.

Globally, electrification of the automobile is progressing, especially in India, raising the ratio of electric vehicle in its automobile market up to 30% by 2030.
Minda 米兰ac体育 Private Ltd. has been established by 米兰ac体育 Group and Spark Minda Ashok Minda Group in 2007, for the purpose of manufacturing and sales of Wiring Harness and other automotive components to Japanese Automotive Makers located in India.
Following our business strategy taking actions toward the Indian governmental policy of the electrification, 米兰ac体育 Group aims for the initiative in Indian automobile market by acquiring the management control of Minda 米兰ac体育 Private Ltd. Further, Our Group with the continuous support from Spark Minda Ashok Minda Group will lead Minda 米兰ac体育 Private Ltd. to improve QCDDM^{(note 1)}and expand the business in the growing Indian market.
Post the change in shareholding, the joint venture relationship between 米兰ac体育 Group and Spark Minda Group shall continue.

With the acquisition, the corporate name of Minda 米兰ac体育 Private Ltd. will be changed into Furukawa Minda Electric Private Ltd.

米兰ac体育 (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then 米兰ac体育 has become pioneers in the latest technologies by addressing diverse technological issues. 米兰ac体育 has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. 米兰ac体育 reported consolidated revenues of JPY 967.3 billion (approximately USD 8.7B) for the fiscal year ended March 31, 2018.