Toyoda Gosei Co., Ltd., the UNO MINDA (Minda), a major Indian automotive supplier, and Toyota Tsusho Corporation, a major Japanese trading company, signed an agreement in November 2014, to establish a joint manufacturing company inIndia. The new company, MINDA TG Rubber Pvt. Ltd. (MTG), is located in Bawal, Rewari district, Haryana, about 100 miles southwest of New Delhi, and is scheduled to start operation in September 2015. It will supply brake hoses and other automotive rubber hoses to automakers in the rapidly expanding Indian market to meet their need to procure these components locally.
Since 2011, Toyoda Gosei and Minda have been cooperating with each other through the joint ownership of Toyoda Gosei Minda India Pvt. Ltd. (TGMIN), which Toyoda Gosei originally established in 2008. It produces safety systems such as airbags and sealing products such as weatherstrips. The new joint venture will further strengthen the partnership between Toyoda Gosei and Minda and help both companies expand business in the growing market.
Outline of MTG
| Company name | MINDA TG Rubber Pvt. Ltd. (MTG) |
| Establishment | December 2014 |
| Start of operation | September 2015 [planned] |
| Location | Bawal, Rewari district, Haryana, India |
| Capital | Rs350 million |
| Investment | Rs680 million |
| Owner | NK Minda Group: 51% Toyoda Gosei Co., Ltd.: 44% Toyota Tsusho Corporation: 5% |
| Products | Brake hoses, fuel hoses, and other automotive rubber hoses |
| Area | Land: Approximately 15,600 m2 / Plant: Approximately 6,200 m2 |
| Employees | Approximately 140 in FY2019 [planned] |
| Sales | Approximately Rs1 billion for FY2019 [planned] |
