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UNO Minda Limited — Regulatory Filings 2021
Jun 22, 2021
61248_rns_2021-06-22_75e9587e-16ff-432f-b45e-93c5e43714ea.pdf
Regulatory Filings
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Press Release
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Minda Industries Limited
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Minda Industries forays in Uzbekistan, to acquire 51% stake in UzChasys, leading automotive lighting manufacturer
Gurugram-June 22[nd] , 2021- Minda Industries limited ('MIL') has announced that it has won bid to acquire of 51% stake in leading automotive lighting manufacture UZ Chasys LLC (UZ Chasys) in Uzbekistan for a purchase consideration of 83.1 Bn Sams equivalent to ~Rs 58 Cr.
Uzbekistan government is moving toward liberalization of economy and divesting their stake is some of the government controlled entities. As part of this process, Uzbekistan Government is divesting their 51% stake in UZ Chasys through auction process.
UzChasys specialize in manufacturing of automobile headlights and lamps and is a leading Supplier to OEM's in Uzbekistan and has significant exports. Uzbekistan automotive market is expected to grow significantly in coming years along with introduction of new models which will benefit UZ Chasys. The acquisition will further expand the company's geographical footprints.
About Minda Industries Limited:
Minda Industries Limited (MIL) is a flagship Company of UNO MINDA Group. UNO MINDA, a technology leader in Auto Components Industry is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures automobile components for Original Equipment Manufacturers (OEMs) and is rapidly expanding with growing market share across all its product lines. It endeavors to deliver high technology and quality products to its customers globally.
The Group is a global player in the automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, Mexico, as well as Design Offices in Taiwan, Japan & Spain. It has over 71 manufacturing plants globally and has JVs/Technical Agreements with world renowned manufactures from Japan, Italy and Taiwan
For more information about the Group and its businesses, please visit website at http://www.unominda.com
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Press Release
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Minda Industries Limited
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Press Release ~~iOt•)(~~MINDA] Minda Industries Limited |
Press Release ~~iOt•)(~~MINDA] Minda Industries Limited |
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| Connect with us C https://twitter.com/unomindacom Ihttps:/www.fcebook.com/ unom ind ag rou p I https://www.linkedin.com/companv/unominda ~~a ~~http://youtube.com/c/unomindagroup |
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| Forfurther information/Mediaqueriesplease contact | ||
| AnkurModi Head, Corporate Finance&Communication Email id:[email protected] |
Rishibha Kumari Corporate Communications Email id:[email protected] |
Safe Harbor: This document may contain forward-looking statements about Minda Industries Ltd & its subsidiaries, which are based on the beliefs, opinions and expectations of the company's management as the date of this press release and the companies do not assume any obligation to update their forward looking statements if those beliefs, opinions, expectations, or other circumstances should change, These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements. For historical financial performance, please refer Investor Relations section on Company website www.unominda.com
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