Mumbai: JBM Auto has said that it has entered into a joint venture (JV) agreement with Thailand-based Ogihara to manufacture auto components.
The JV, in which JBM will hold 51% with the rest with Ogihara, will manufacture part for Toyota Kirloskar Motor and is expected to start commercial operations from 2010.
The company has entered into a JV with Ogihara (Thailand) Company primarily for the manufacture of stamping or sub assembly parts for Toyota Kirloskar Motor, auto component maker, JBM Auto, said in a filing to the Bombay Stock Exchange (BSE).
The JV will set up state of art facilities at Bangalore, it added.
Shares of JBM Auto were trading at Rs22.65, down 7.17% in the afternoon trade on the BSE.