Three days after Tata AutoComp Systems inked an agreement with Fortaco to make cabins for off-highway vehicles in India.
Tata AutoComp Systems, India’s leading component conglomerate and SECO Seojin of South Korea have entered into a joint venture agreement to design, develop and manufacture clutch systems in India. The product range will comprise clutch covers, clutch discs and friction material required for clutch application.
The focus for the JV is to enter the commercial vehicle market as well as the agricultural tractor markets, expand the passenger vehicle business and establish an independent aftermarket for the product. SECO currently manufactures clutch systems for passenger vehicles in its plant in Chennai and supplies to Hyundai Motor India. This plant will become a part of the JV.
Arvind Goel, MD and CEO, Tata AutoComp, seals the joint venture deal with Kiwook Bae, CEO, SECO Seojin Group.
Commenting on the planned JV, Arvind Goel, MD and CEO, Tata AutoComp, said: “The demand for clutch systems will continue over the coming years. Our endeavour is to enhance our offering to provide our customers with the latest technology. SECO is a leader in designing and manufacturing of clutch systems. We believe that there is a large opportunity for high-quality clutch systems in the commercial vehicle space as well as in the aftermarket. We are confident that this JV will help us enhance our product range and also widen our offering in the aftermarket space.”
Kiwook Bae, CEO of SECO Seojin Group, said: “SECO is honoured to partner with Tata AutoComp and build a win-win business partnership. There is a great potential in the Indian market for Clutches and together we can build a great business in the traditional OEM space and also in the aftermarket.”
Also read: Setco to make BS VI-compliant clutches for M&HCVs