ASK Automotive Signs Agreement with Japanese Firm for Two-Wheeler Alloy Wheels

ASK Automotive Ltd has entered into a Technical Assistance and License Agreement with Japan's Kyushu Yanagawa Seiki Co., Ltd. (KYSK) for the production of high-pressure die-cast alloy wheels for two-wheelers, the company announced today in a stock exchange filing.

The agreement will allow ASK Automotive to manufacture alloy wheels using KYSK's technical know-how and expertise for an identified Japanese customer. Under the terms of the deal, ASK will pay both a one-time initial royalty and an ongoing running royalty to the Japanese firm.

The collaboration is expected to help ASK Automotive meet required industry standards and manufacture best-in-class products for its customers. The agreement has been structured with perpetual validity unless terminated according to specific conditions outlined in the contract.

Kuldip Singh Rathee, Chairman and Managing Director, ASK Automotive Limited, said the partnership with KYSK will facilitate the company with critical technical assistance and know-how, helping it meet the required standards and manufacture the best in class products for its Identified Customer.

ASK Automotive clarified that the parties are not related to each other, and the agreement specifies India as the "Domestic Territory" for operations. The company made the announcement in compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements.

ASK Automotive manufactures automotive components and has recently expanded into cast wheel production. ASK Automotive operates in the two-wheeler components sector and specializes in Advanced Braking (AB) Systems and Solutions.

KYSK is a Japanese company that specializes in technical expertise for cast wheel production. The firm provides technical assistance and know-how for manufacturing high-pressure die-cast alloy wheels for two-wheelers. KYSK works with specific customers in the automotive industry and maintains proprietary technical knowledge that meets international quality standards for two-wheeler component manufacturing.