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Automotive safety components maker Joysons to merge its two JVs in India

 DorothyAugustus
  43
 June 2, 2024

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The name of the new tripartite joint venture is Junsheng Anand Abhishek Safety Systems Pte Ltd (JAASS).

Automotive component manufacturer Kungsheng Safety Systems Systems (JSS) has announced the merger of two joint ventures into a tripartite joint venture in India. KSS Abhishek Safety Systems Private Limited (KSSA), a joint venture between JSS and Abhishek Group is about to merge with Takatata Joint Venture India Pvt. Ltd. (TIPL). TIPL is a joint venture between JSS and Anand Group.

The name of the new tripartite joint venture is Junsheng Anand Abhishek Security Systems Pvt. Ltd (JAASS). The merger of the two companies has to be approved by the National Company Court Merger (NCLT).

As per the terms of the agreement, the shareholder structure of JAASS will be as follows; JSS 65%, Anand Group 30% Anand Abhishek Group will hold 5% stake.

“The joint venture will serve as a platform for our safety products business to expand our product offerings in India, combining our world-class capabilities and strengths to increase our market share in one of the world’s fastest growing automotive markets. said Guido Durrer, President and CEO of Juniper Safety Systems:

After the merger, JAASS India will have four manufacturing facilities including Pune, Maharashtra; Kancheepuram, Tamil Nadu; and bangmanesar, Haryana. “By 2023, JAASS is expected to be the leading supplier of safety-critical components in India such as airbags to all major OEMs ( driver, passenger, side, curtain etc.), seat belts (front and rear) and steering wheels. There. Anand Group in a press release, the turnover will be Rs. 10 billion.

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