MOU for Joint venture establishment with MULTILINK India

May 24, 2018
ASAHI DENSO CO., LTD

ASAHI DENSO CO., LTD (Headquarter Hamakita-ku, Hamamatsu, Japan, President Hiroyuki Tejima) has exchanged MOU for establishment of Joint venture company which will produce electrical parts for 2 wheelers with MULTILINK (Headquarter Bengaluru, Karnataka, India, Representative partner H.G.VASUKI ) which is Indian vehicle parts manufacturer and Kanematsu corporation (Headquarter Minato-ku, Tokyo, Japan).

Above 3 companies have agreed on entering in discussion to establish joint venture company to newly manufacturer electrical parts for 2 wheeler in India. Those will conclude formal agreement on Joint venture establishment by end of 2018. In addition, 3 companies will provide joint venture company with funding and various know-how, etc. Furthermore, details will be discussed by among 3 companies with aiming to expand business in India where is biggest 2 wheeler market in the world.

■Outline of Joint venture company
Name：ASAHI+MULTILINK PRIVATE LIMITED (plan)
Location：Hosur, Tamil Nadu, India
Start operation: Oct 2019 (plan)
Investment ratio：Asahi Denso 51%, MULTILINK 39%, Kanematsu 10%
Business line：Manufacture and sales for electrical parts for 2 wheeler

■Outline of MULTILINK Group
Established：1983
Representative：H.G.VASUKI
Turnover：97MillionUSD, (For 2 wheeler business 35MillionUSD)　 (2017)
No. of Employees: 1,703 (For 2 wheeler business 658)
Business line: Manufacture and sales for electrical parts for 2/4 wheeler
Manufacturing structure: For 2 wheeler, manufactured by MULTILINK
( 3 factories: Mysore, Hosur, Manesar).
For 4 wheeler, manufactured by MARCUREX and M+ACER.
Main Customers：HERO，TVS，HONDA，ROYAL ENFIELD etc.