UNO MINDA LIMITED Uno Minda Limited (Uno Minda) has announced that its Board has approved to enter into a Joint Venture agreement with TACHI-S Company Limited (TACHI-S) for manufacturing and marketing of seat recliners for four wheeler passenger vehicle in India. The Joint Venture will offer various products including recliners in first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly. Uno Minda will hold 51% stake in the Joint Venture while the remaining stake will be held by TACHI-S. Uno Minda is already a leading player in automotive seating systems for two wheeler and commercial vehicles.
The joint venture will help expand Uno Minda its seating systems product offering in 4W Passenger vehicle as well. In first phase, the Board has also approved investment up to INR 100 million for recliner product which has qualified for business from Indian OEMs.
