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Murugappa group company Tube Investments of India (TII) has entered into a joint venture agreement with Tsubamex of Japan, which designs and manufactures sheet metal stamping dies for the automotive industry and white goods sector.
The 50:50 joint venture in India between TII and Tsubamex will be called TI Tsubamex Ltd. The company will be incorporated with an overall share capital of Rs 7 crore, said a press release.
The joint venture will engage in large sheet metal stampings die design and engineering for the automotive and white goods sectors.
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