Sogefi SpA, the Italian car parts maker, has signed a JV with India?s Imperial Auto to produce car parts for the Indian market. The 51: 49 JV has been inked between Allevard Rejna Autosuspensions and the Rs 600-crore Imperial Auto.
This is the second JV signed by the Sogefi Group in India. The group is present in India through a JV with MNR, a company based out of Bangalore.
The new JV, Allevard- IAI Suspensions, will make elastic suspension components for the Indian and international automotive companies in India. It will initially manufacture stabilizer bars and torsion bars for cars and utility vehicles, components which form a critical part of the suspension system, Emanuele Bosio, chief executive, Sogefi group, said. ?India is a new step in the group?s strategy of growing in a new market. With this JV, the Segofi Group now has a presence in both engine filtration and suspension vehicle systems in India,? he said. Segofi has 39 production sites in 13 countries.
The new JV will commence production from the current month from one of the existing facilities of Imperial Auto in Pune and will simultaneously begin the process of setting up a Rs 25-crore production unit, which will be operational by mid-2011, Bosio said.