Business

Best Group joins hands with German company

NEW DELHI: Best Group on Tuesday announced its tie-up with Europe’s largest manufacturer of transmission shifting systems, Koki Technik Transmissions of Germany, to manufacture transmission shifting parts in India.

The transmission shifting products (gear boxes) will be manufactured at Best Group’s production unit at Gurgaon and will be available in the market from 2009. In the 50:50 joint venture, both the partners will be investing Rs. 40 crore.

Addressing a press conference here, Best Group Chairman S. K. Jain said the scope of the partnership encompasses participating with original equipment manufacturers (OEMs) from the conceptual stage, including design, development up to complete serial production.

“At present, all the automobile manufacturers producing gear boxes in India are using relatively old technology products. The new joint venture will be the first company in India to manufacture new high-tech entire transmission shifting systems and sub-assembly for automotive industry,” he added.

Mr. Jain also said that the manufacturing capacity being installed would be close to seven-lakh units annually. “While the major portion of the production will be sold in India, we will also export components and sub-assemblies to Koki Technik. Initial exports will start within this financial year for which the joint venture company has already received the order for 1.3-lakh units from Koki Technik, Germany,” he added. About the joint venture, Koki Technik Transmission Systems CEO Bernd Beltrame said in India, their transmission shifting systems were being used where the OEMs were importing the gear boxes from Europe. But now they would be available in India and help the domestic as well as oversees automotive sector.

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