Jaya Hind Industries Ltd. (JHI), the Pune-based aluminium die casting company, has entered into a joint venture agreement with Montupet S.A. of France for development and manufacture of automotive cylinder heads in India.
The joint venture will bring together the product development and engineering strengths of Montupet S.A. and the cost-efficient manufacturing experience and in-depth market knowledge of JHI. Both the companies will now be able to cater to the requirements of various OEMs not just in India but also in China, South-East Asia and the Far East.
With this joint venture, Montupet S.A. now extends its manufacturing footprint across Asia tapping into newer markets. JHI will have access to Montupet’s global technology to manufacture world class automotive components and align it with the “cost-effective” manufacturing techniques.
Speaking on the occasion, Mr. Prasan Firodia, JHI Managing Director, observed: “JHI has always been recognized for its focused development of critical automotive parts and believes in equipping itself with world class technology, quality process and systems and manpower training accordingly. This JV is in line with our strategy of absorbing world-class technologies through technical partnerships with global leaders. This joint venture will also give us the benefit of global presence to offer supply chain benefits through geographic proximity to our customer. This JV makes immense strategic impact in today’s globalized markets.”
The Montupet Chairman and CEO, Mr. Stéphane Magnan, said: “Montupet is recognized as a technology world leader for advanced aluminium castings for the automotive industry. Our strategy includes developing our manufacturing footprint to better serve our customers. This JV represents a major step as it establishes the presence of Montupet in Asia. We have great expectations that it will have a major impact on the company’s development in the years to come, and we think that joining forces with Jaya Hind Industries which has proven its management excellence, brings to the JV the best chances of success”.