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Construction : Deals | October 2014 | Source : Construction Update

Minda Corporation picks up majority stake in JV partner Minda Furukawa Electric

Minda Corporation Ltd has acquired 2 per cent stake from its Japanese Joint Venture Partner Furukawa Group. The two percent acquisition gives it a majority holding of 51 per cent in the Joint Venture entity Minda Furukawa Electric Pvt Ltd. It did not disclose the amount of acquisition. Established in the year 2006, the 51:49 partnership with Ashok Minda Group holding 49 per cent and Furukawa holding 51 per cent is into manufacturing wire harnesses and allied components such as couplers, terminals, and relay boxes, primarily for passenger cars which are manufactured at its unit in Bawal, Haryana.
 
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