STOCKWATCH

Sona BLW Precision Forgings Ltd. to Form Joint Venture in China with Jinnaite Machinery Co. Ltd.

Sona BLW Precision Forgings Ltd. (Sona Comstar) announced the formation of a joint venture (JV) in China with Jinnaite Machinery Co. Ltd. (JNT). The JV will manufacture and supply driveline systems and components to automotive OEMs in China and globally. Sona Comstar will contribute $12 million and hold 60% equity shares, while JNT will contribute in the form of assets and business and hold 40% equity shares. The JV is expected to commence operations in the second half of the current financial year.

• Sona BLW Precision Forgings Ltd. (Sona Comstar) and Jinnaite Machinery Co. Ltd. (JNT) to form a joint venture (JV) in China.
• The JV will manufacture and supply driveline systems and components to automotive OEMs in China and globally.
• Sona Comstar will contribute $12 million and hold 60% equity shares, while JNT will contribute in the form of assets and business and hold 40% equity shares.
• JNT operates a world-class foundry utilizing patented technology and has a strong customer base in various sectors, including leading Chinese automotive OEMs.
• The JV is expected to commence operations in the second half of the current financial year.