Minda Corporation signed a joint venture agreement with HSIN Chong Machinery Works Co. (HCMF) from Taiwan, a leading global manufacturer of Automotive Sunroof and Closure systems. This partnership is a 50:50 Joint venture between Minda Corporation and HCMF, aims to provide cutting edge technology backed by state-of-the-art manufacturing of sunroof and closure technology products for passenger cars by localisation in India.
The initial ratio of shareholding in the proposed JV company shall be 50:50.
