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JVs Formed By Fiat And Krishna Group Companies |
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Magneti Marelli, the subsidiary company of one of the leading automobile companies of the world, Fiat SpA, has recently entered into two new Joint Venture (JV)s with the Indian companies named SKH Metal and SKH Sheet Metal Components. The sources from the industry have informed that both the companies are the parts of the Krishna group and the new JVs have been signed for manufacturing automobile exhaust systems in India.
According to one the sources related to the JV formation, both the JVs would be operated on equal partnership basis, in spite of having a lack of clarity on investment. The companies are planning to make an announcement regarding the matter on Thursday and though the Managing Director of SKH Metal, Mr. Sunandan Kapur confirmed the development, he denied saying anything in details. The sources said that the JV between Marelli and SKH Metal would set up a manufacturing facility at the Maruti Suzuki Industrial Suppliers Park in Manesar. The companies would use the exhaust system components designed, produced, assembled and tested here, in the production of vehicles for Maruti Suzuki India (MSIL) and Suzuki Motor firms.
While talking about the other JV with the SKH Sheet Metal, one of the top executives of Marelli said that this JV will be located in the auto cluster at Pune and it will design and produce exhaust systems for the cars of Fiat, Tata and other automotive customers from the region. The companies would produce exhaust systems that include the catalytic converters, silencers and these systems have actually become important in the context of likely adoption of Euro IV or Euro V norms for motor emission. The systems are also crucial for controlling the pollution emitting from the strong increase of motor vehicles in the country that results environmental concern. The sources from the Indian government have informed that the government is planning to adopt the Bharat Stage 4 emission norms, equivalent to Euro IV, by the turn of the current decade.
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