Uno Minda, a Tier-1 dealer of proprietary automobile answers and systems to unique equipment manufacturers (OEMs) has announced that its Board has approved to enter into a Joint Venture agreement with TACHI-S Company Ltd, a global seat system creator established in Tokyo, Japan, for production and advertising and marketing of seat recliners for four wheeler passenger car in India. The Joint Venture will offer numerous products along with recliners in first section with the purpose of expanding into other seating mechanisms, seat frames and entire seating assembly. Uno Minda will hold fifty one% stake within the Joint Venture while the ultimate stake can be held by TACHI-S.
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