Joint Venture7 Feb 2025, 01:09 pm
Samvardhana Motherson International Ltd. Announces Joint Venture with Matsui, Japan
AI Summary
Samvardhana Motherson International Limited has informed the Exchange about a Joint Venture with Matsui, Japan. The Joint Venture Agreement has been approved by SMRC Automotive Holdings Netherlands B.V. ('SAHN B.V.'), an indirect wholly owned subsidiary of the Company. The purpose of the agreement is to deliver manufacturing automation solutions for customers in Japan and other mutually agreed territories. The Joint Venture Company ('JVC') will be incorporated in Japan with an initial shareholding of 50% +1 stock for SAHN B.V. and 50%- 1 stock for Matsui. The agreement includes customary rights and restrictions for such transactions.
Key Highlights
- Samvardhana Motherson International Limited announces a Joint Venture with Matsui, Japan
- The Joint Venture aims to deliver manufacturing automation solutions for customers in Japan and other territories
- The Joint Venture Company ('JVC') will be incorporated in Japan with an initial shareholding of 50% +1 stock for SAHN B.V. and 50%- 1 stock for Matsui
- The agreement includes customary rights and restrictions for such transactions
- The JVC will have an initial authorized share capital of JPY 300,000,000 (Japanese Yen Three Hundred Million Only)