Bridgestone signs AVS JV with Sundaram in India

ERJ staff report (DS)

Tokyo -- Bridgestone Corpo. said it intends to establish a joint venture in anti-vibration rubber for automobiles with its technical partner in India, Sundaram Industries Ltd. The two companies signed an agreement on 3 Dec, 2008. Sundaram is part of the TVS group and has headquarters in Tamil Nadu, India. Bridgestone will hold a 51 percent stake in the venture which will employ 700.

Sundaram is a leading manufacturer of anti-vibration rubber for automobiles in India. Bridgestone concluded a technical assistance agreement in anti-vibration rubber for automobiles business with Sundaram Industries Ltd. in 1996,. Bridgestone believes the joint venture will enable the production and sale of high-quality products boasting technical superiority at a competitive cost in the expanding Indian market, and lead to an enhanced global supply chain.

The unit will have a capital of Rs358 million (Euro 5.6 million).

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Press release from Bridgestone