Corporate
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Alliances & Joint Ventures
MICO, Bosch propose new venture for trading in filters
Ambarish Mukherjee
New Delhi
,
Jan. 9
MICO and the Germany-based Robert Bosch group will be setting a new joint venture company for trading in filters. The two companies already have close links in terms of technology sharing and also have other joint ventures.
According to the plans, MICO will pump in Rs 16.5 crore for 50 per cent of the equity. Of the remaining 50 per cent, Robert Bosch GmbH will pick up 25 per cent and Robert Bosch Investment Netherlands BV will pick up the other 25 per cent.
The two foreign partners will pump in Rs 8.25 crore each in the joint venture company.
The new company will be called MHB Filter India Private Ltd and will undertake wholesale trading in filters of the company's own make as well as outsourced from third parties and will sell them exclusively to MICO and Mann & Hummel Filter Private Ltd.
Founded in 1951, Mico is the largest Indo-German company and the largest manufacturer of diesel fuel injection equipment in the country.
It also has a joint venture company called Mico Bosch.
Mico's business areas include common rail injectors and components, diesel fuel injection equipment, industrial equipment, auto-electricals, gear pumps for tractor applications, electric power tools, packaging machines, security technology products and Blaupunkt car multimedia systems.
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