Maruti to form JV for sheet metal
Maruti in JV for manufacturing sheet metal components to be used for its own requirements and Suzuki's motorcycles in India.india Updated: Jun 14, 2006 14:50 IST
Maruti Udyog Ltd has decided to form a joint venture for manufacturing sheet metal components which will be used for its own requirements as well as for Suzuki's motorcycles in India.
"Maruti will be forming the joint venture for manufacture of sheet metal components," a company source said.
The source said the car major will hold 30 per cent in the JV which is modelled on similar joint ventures the company has.
Japan's Suzuki has 54.2 per cent stake in Maruti Udyog, which is India's largest car maker.
Maruti has similar joint ventures for components that include Jay Bharat Maruti, Asahi India Glass, Mark Auto and Krishna Maruti.