Business Line quoted auto components manufacturer,Uno Minda of NK Minda Group and AMS of Korea as saying that the companies are entering into a technical license agreement for design,manufacture and sale of automotive lamps in India.
With this agreement,AMS would provide technical support for automotive lamps through conventional light sources as well as new technologies such as light emitting diode sources,for four wheeler manufacturers in India and Indonesia.
Mr NK Minda CMD of Uno Minda said that''Though a young company,AMS has exceptional in house technologies.The expertise their engineers have gained in designing and manufacture of lamps for some of the major original equipment manufacturers in Korea is outstanding.''
Mr Minda said that AMS also has footprints in China,Uzbekistan,North America and South America.With this partnership,Minda is also venturing into a new product line,in keeping with its diversification and consolidation approach to the Indian market.
Mr SM Park President of AMS said that''India is a growing market for us and we are pleased to partner with Uno Minda to bring best practices to Indian OEMs and to explore and expand the markets within Asia.''
This is the second such agreement by Uno Minda.The company earlier this month had entered into a JVe with Japan based Nabtesco Automotive Corporation for designing,manufacture and sale of air brake products for commercial vehicles and clutch products for passenger vehicles.
