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India-Based N K Minda Starts Joint Venture With Japan-Based Kosei Aluminum Indian Automotive components sup-
plier N K Minda Group, Chennai, India, has established a joint venture (JV) with Kosei Aluminum Co. Ltd., Toyota City, Japan, to make aluminum wheels and other die castings. The JV, which is split 60-40 between
N K Minda and Kosei, was established at the end of 2010 and will operate under the name Kosei Minda Aluminum Co. Ltd. out of Chennai. The company will make aluminum wheels and die cast- ings for major OEM car manufacturers beginning in the summer of 2012. It will begin with a set annual volume of 300,000 pieces and increase to 600,000 pieces in 2014. “We are delighted to partner with
Kosei and are confident that this JV will create a strong local production base to offer market-leading, technology intensive alloy wheels and aluminum die casting parts to India and global OEMs,” said Nirmal Minda, head of N K Minda. “With the complementary skills and experience brought to the new venture by both Kosei and Minda, we look forward to a successful launch.” Kosei also has a supply base in
China, the Philippines and Thailand. The company’s Japanese and overseas
European Equity Group Buys Portion of China-Based Modern Metal & Precision
EQT Greater China, a division of
equity group EQT, Copenhagen, Den- mark, has purchased 30% of Diecaster Modern Metal & Precision Holdings Ltd., Dongguan, China. The majority of the aluminum die
casting manufacturer will still be owned by its founders, but the influx of equity capital is expected to allow the company to expand its existing operations and establish a new manufacturing location. “Our company is in an expansion
phase,” said C.T. Fung, co-founder and president of Modern Metal. “The Chinese automotive market is expected
(continued on page 16) MODERN CASTING / February 2011 11
operations have a combined annual production capacity of 3 million wheels. According to a press release issued by
the company, the JV was established due to the rapid growth in the market in India.
MC
INDUSTRY NEWS
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