JBM Auto - Updates
JBM Auto Ltd has informed BSE that the Company has entered into following agreements:
1. Joint Venture Agreement with Magnetto Automotive S.P.A - Company has entered into a 50:50 Joint Venture with Magnetto Automotive S.P.A. (ITALY) for manufacture of Skin panels, body and under body, welded parts and sub systems for four wheeler OEMs in Pune region namely TATA, Fiat TATA, Volkswagon group Magnetto S.P.A (ITALY) is a major supplier of Upper and lower body structures, inner and outer pannels, doors and Lid systems. A new Joint Venture Company has been incorporated in the name of JBM Magnetto Automotive Pvt Ltd and facilities are established at Chakan, District Pune, Maharashtra.
2. Joint Venture Agreement with Sandhar Technologies Ltd: Company has entered into a Joint Venture Agreement with Sandhar Technologies Ltd with 50:50 stake to form a consortium for Operating and maintaining the tool room and technical service centre of Pithampur Auto Clusters Ltd (PACL). Consortium of JBM Auto Ltd and Sandhar Technologies Ltd has been awarded the work of operating and maintaining the tool room and technical service centre of PACL at Hernia Khedi, AB Road, Tehsil Mhow, Distt. Indore, Madhya Pradesh as per the terms and conditions of the tender issued by PACL.
JBM Auto Ltd, Sandhar Technologies Ltd have formed a Joint Venture Company namely Indo Toolings Pvt Ltd and have entered into Operations and management Agreement with PACL for operating and maintaining a Tool Room and Technical service centre to be established by PACL at indore.
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