*Metalman Auto Pvt Ltd* is forming a 50:50 JV with Italy based - *Cellino S.R.L*. The JV – *Metalman Cellino Pvt Ltd* will manufacture metal components for passenger cars, commercial vehicles and heavy equipment. The company will set up a new plant either a Pathampur or Pune.
The JV benefits both the companies as Cellino will get components at a lower cost while, Metalman will receive business from European Markets as well as the technological know-how. Metalman was incorporated in 1986 in Indore to manufacture sheet metal and tubular automotive components for Kinetic Honda. Today, Metalman operates three plants and supplies automotive components to Bajaj Auto, Eicher Volvo Motors, Siemens, Caparo Industries, L&T Case, Anvis France and Renault France. India's cost competitiveness in terms of labour and raw material has made India the favoured location among global automotive companies to set up manufacturing units. Various Auto companies including are *Oeitker Group, Michelin *and* Ford*setting up manufacturing units in India, while others are forming partnerships with Indian companies. Companies *Continental AG* and *Cornaglia Group* has set up their manufacturing units through JVs. Germany's Continental AG has a JV with *Rico Auto Industries Ltd* to make hydraulic brake systems, while Turin based Cornaglia Group has a JV with *Lumax Auto Technologies Ltd* to make emission systems. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
