09/10/2014

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Tata Autocomp and Magna enter into a joint venture

The JV will be headquartered in Pune, Maharashtra, India, and will supply seating systems to customers in India. Ajay Tandon, MD & CEO of Tata AutoComp Systems Limited, said, "Tata AutoComp has always been the front runner in offering cutting edge technologies to its customers through its partners. This partnership with Magna will expand our portfolio to now bring the latest in seating systems to the Indian commercial vehicle industry.” Arvind Goel, President and Chief of Operations and New Technology, Tata AutoComp Systems Limited, added: "Seating systems in commercial vehicles have not yet evolved in India. With the rapid increase in infrastructure, we envisage more and more vehicles plying long distances. In such a scenario, the safety and comfort of both driver and passengers is paramount. Through this JV, we intend to address this increasing need of the industry.” Mike Bisson, President of Magna Seating, said, "We are pleased to partner with Tata AutoComp Systems Limited, a leading player in the India auto-component industry. The combination of Magna's seating expertise and Tata AutoComp's knowledge of the Indian market provides both companies an opportunity for growth in the commercial vehicle market.” "Leveraging our expertise in automotive seating and delivering it to the commercial vehicle market in India is an important part of our global growth strategy,” said Deepak Nagaraja, Vice President of Magna Seating. "We believe this market offers a great deal of opportunity and we look forward to working together with Tata AutoComp to capitalise on the potential.”Tata AutoComp currently has four JVs with leading companies from the global automotive component industry and operates 29 manufacturing locations in India and one in China.Magna is a global automotive supplier with 317 manufacturing facilities and 83 product development, engineering, and sales centers in 29 countries.

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