Financial Daily from THE HINDU group of publications
Thursday, Feb 10, 2005
Financial Daily from THE HINDU group of publications Thursday, Feb 10, 2005 |
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Corporate
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Alliances & Joint Ventures Tata AutoComp, UK's Stadco to set up joint venture Our Bureau
Mumbai , Feb. 9 TATA AutoComp Systems Ltd (Taco) and Stadco Ltd of the UK on Wednesday signed a 50:50 joint venture agreement to set up Taco Stadco Automotive. The venture has been set up to offer a low-cost offshore body systems design and development resource for global component suppliers and vehicle makers, which will bring technology and knowledge to the Indian automotive industry. "The joint venture will see Stadco's strong and proven expertise in the European car industry allied to Taco's manufacturing automotive component strengths in the highly skilled, low-cost Indian environment," a news release said. The first phase will see the establishment of a product engineering centre in Pune which will provide European technology and know-how to Indian vehicle makers seeking to develop new products. It will also offer service design and development capability to European and US customers seeking to take advantage of low-cost design engineering services. The Managing Director of Stadco, Mr Andrew Morrise, was quoting as saying: "Accessing the highly skilled, low-cost base of the Indian motor industry is critical to the success of our customers." Stadco is one of the big players in the global market for body-in-white technology.
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