According to India’s “Economic Times” report, Anand Group, a manufacturer of automotive systems and components in India, recently announced that it has formed a joint venture with Mando Steering Systems India and acquired a share of the latter. .

Anand Group said in a statement recently that it had established a joint venture with the South Korea’s Mando Group on October 29 this year and obtained some shares of the latter, but Anand Group did not provide detailed information on the size and specific amount of the transaction. .


Anand Group stated: "The goal set by Wandu and Anand Group for the new company is to achieve 1 billion rupees (about US$19 million) in sales in 2016. Both parties hope to establish R&D and company operations through the establishment of a new company. Achieve a wide range of synergies and enter new customer segments to gain wider customer influence.”


In addition to the new company, Anand had established a joint venture with Mando in 1997, Mando India Ltd., which owns a factory in Chennai and produces shock absorbers and brakes. system.



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