Tube Investments of India Ltd. (TII), part of the Rs. 225 billion Murugappa Group, has signed a joint venture agreement with Tsubamex of Japan, a reputed designer and manufacturer of sheet metal stamping dies for the automotive industry and the white goods sector.
The 50:50 joint venture in India between TII and Tsubamex will be incorporated as TI Tsubamex Ltd. with an overall share capital of Rs. 70 million. The JV will target large sheet metal stampings die design and engineering. Under the JV agreement engineers will undergo extensive theoretical and practical training at Tsubamex, Japan. The training will cover die design and process engineering and will prepare the design engineers to independently handle assignments at the joint venture in India. The company expects that this would usher in early customer confidence and pave the way for world-class die manufacture in India.
The JV will seek opportunities not only with the growing automotive sector but also the white goods industry. Competency building in dies design and process engineering will be the key differentiator and the formula for success of the new JV.
TII today serves the auto sector with a suite of products. The company enjoys a premium position with its wide range of precision steel tubes, speciality cold-rolled strips, roll formed and precision fabricated door frames for most Indian made cars and precision fine blanked parts for critical automotive sub-systems.
The company also holds a key position in the two-wheeler segment with an array of drive chains and sprockets, timing chains and telescopic fork tubes.
Tsubamex is a niche player in the Japanese sheet metal stamping die industry. The company President, Mr. H. Gai, has pioneered the use of CATIA software in Japan for die designs and has developed his company’s own system for design process control.