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Spark Minda in News
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Minda in News » News Detail
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indiainfoline.com
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Aug 16, 2004
Ashok Minda Group ties up with US firm
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Minda Instruments Ltd (MIL), a Pune based group company of all-India Rs 300 crores Ashok Minda Group, today announced its joint venture with Stoneridge Inc, a leading manufacturer of Electronics instruments. As a part of this agreement the $607 mn Stoneridge Inc, USA (NYSE: SRI) will pick up 49% stake in MIL over a period of three years. With this development, MIL will now have exclusive manufacturing and marketing rights for India and 17 Asian countries, namely- Malaysia, Indonesia, Phillipines, Singapore, Thailand, Vietnam, Pakistan, Bangladesh, Brunei, Burma, Cambodia, Laos, Mauritius, Maldives, Nepal, Sri Lanka.
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