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Minda Industries , the flagship company of UNO MINDA Group, has entered into another joint venture agreement with Kasei Group, Japan. Kasei Minda Mould Private Limited will be incorporated with MIL holding 49.9 per cent and Kasei group 50.1 per cent of the equity, the company said in a statement to the exchanges. The JV company is proposed to be set up in Bawal, Haryana, for manufacturing moulds for alloy wheel. This is in line with the group’s strategy to invest in capability-building and develop a competitive edge. The initial investment outlay is ₹25.50 crore, and the first phase of the mould plant is expected to be commissioned by April 2019. Meanwhile, in a separate statement to the bourses, Minda Industries said it has acquired an 80 per cent stake in Germany’s iSYS RTS GmbH (iSYS), a company engaged in systems engineering, development of hardware and software with product and services offering in embedded systems, Electronic Control Unit. These automotive ECUs/ controllers are used in lighting, infotainment systems, automation, and building technologies, among others. Marquee customers of iSYS include BMW and Rolls Royce. Shares of Minda Industries closed flat at ₹418.75 on the NSE.
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