Business Daily from THE HINDU group of publications
Wednesday, Aug 20, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Aug 20, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Alliances & Joint Ventures Japan co tie-up with Micromatic New Delhi, Aug. 19 The Japan-based Rs 400-crore JTEKT Corporation has tied up with Micromatic Grinding Technologies to produce machine tools for engines and transmissions. JTEKT, which was earlier known as Toyoda Machine Works, with 25 per cent stake of Toyota Motor Corporation, would provide the technology to Bangalore-based Micromatic Group to produce machines that can be useful to the auto industry, aerospace, construction and energy industry. The marketing and sales operations of the new joint venture company would be located in Gurgaon. JTEKT already has a joint venture with Sona Koyo Steering Systems for hydraulic and electric power steering. The new company would be known as Toyoda Micromatic Machinary India with 75.5 per cent equity infusion from JTEKT and 24.5 per cent by Micromatic. — Our Bureau More Stories on : Alliances & Joint Ventures | Engineering
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