Jay Bharat Maruti Limited (JBML) (BSE: 520066 & NSE Code: JAYBARMARU), a leading auto-systems & assemblies manufacturer and Tier 1 supplier of Maruti Suzuki India Ltd. has announced increasing stake in JBM OGIHARA Die-Tech (P) Ltd. (JODT) from 39% to 49% by way of acquisition of equity stake from its joint venture partner OGIHARA Thailand Co. Ltd. (OTC).
JODT is a joint venture of JBML, JBM Auto Ltd. (JBMA) and OTC and is in the business of manufacturing and selling press stamping dies, in particular high-tensile and critical BIW dies. The turnover of JODT for FY23-24 stood at INR 489.65 million. The business of JODT is aligned as JBML source the high-tensile and critical BIW dies from JODT. JODT adopted the technology during its association with Ogihara for manufacturing such dies. The increased stake will help JBML in enhancing its output with MSIL.
The technology agreement with OTC & its name in the company will continue for almost 2 years. |
