Joint venture to produce filter systems in India
A
Bosch Automotive OE Division product story
Edited by the Engineeringtalk editorial team
Aug 22, 2005
The Bosch Group and Mann+Hummel Filter have signed an agreement to establish an equal joint venture for the development and production of filter systems in India.
The Bosch Group and Mann+Hummel Filter have signed an agreement to establish an equal joint venture for the development and production of filter systems in India.
The Bosch Group owns 50% of shares in the venture, divided between two of its subsidiaries, Robert Bosch Investment Nederland and the Indian Motor Industries Company (MICO), and will be based in Tumkur, in the Indian State of Karnataka.
The other 50% of shares is held by Mann and Hummel Filter Private, a subsidiary of Mann+Hummel.
The joint venture will develop and produce filter systems including oil, fuel, air and car-interior filters for the Indian market as well as for export.
The company will also provide support to the fast growing local automotive industry in both application and original equipment.
In addition, high-quality filters will be made available to after-market, workshops and industrial applications.
Production of filters is planned to commence by mid-2006 with some 350 employees.
The joint venture represents an investment of some Eur 6 million.
Bosch has been active in India since 1922 and now owns a 60.5% stake in MICO, which was founded in 1951 and is the largest automotive business in the country.
The company works together with 4500 authorised dealers in about 1000 cities throughout India.
Sales of MICO in the fiscal year of 2004 increased by 23% compared with 2003 to some Eur 420 million.
MICO has some 10,000 employees in four locations in India and plans to invest Eur 180 million by 2007.
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