Unitech Machines announces Joint Venture with Magneti Marelli, leading Italian company for automotive electronic systems

Published 18th September 2008

Unitech Machines announces Joint Venture with Magneti Marelli, leading Italian company for automotive electronic systems



15th Sept 08, New Delhi Magneti Marelli and Unitech Machines Limited have signed an agreement for the creation of a joint venture aimed at the manufacturing of motor vehicle electronic system in India with a digital technology.



According to the agreement, the new company will be 51 percent owned by Magneti Marelli and 49 Percent owned by Unitech Machines Limited. The Joint venture is set to be operational by the end of the first quarter of 2009.



The industrial facilities will be located in Manesar- in the industrial district of Gurgaon within the NCR of Delhi- in an area strategic to the automotive sector and where Magneti Marelli already has two other joint ventures in place for the production of engine control units and exhaust systems respectively.



The activity will be aimed specifically at the design, production and assembly of motor vehicle electronic components, such as instruments clusters, body electronics (control units that manage main vehicle functions) as well as telematic devices.



The activities of the JV will be addressed to local and international carmakers operating on the Indian sub continent.



Unitech Machines Limited is a company in India in the two wheel four wheel vehicle components sector, and it is also part of the Unitech Machines Limited group chaired by Mr. V.K. Chhabra and operating in various sectors, such as Power, Telecom, Automotive and Infrastructure.



Eugenio Razelli, CEO of Magneti Marelli, stated : “ We have created five joint ventures in less than one year in a crucial market such as India, thus completing our localization plans in that country. This an important result that bears witness to our ability to be present in emerging markets and to our flexibility in supporting carmakers in key production areas for their global activity. We have reproduced the entire perimeter of our activities in India’s main automotive districts, from powertrain to lighting, from exhaust systems to shock absorbers and now electronic systems too. For this fifth joint venture, we found in Unitech Machines the ideal industrial partner with whom to develop our business in a strategic sector such as instrument clusters and electronics , which also includes telematics”.



Mr. V.K.. Chhabra, CMD of Unitech Machines Group said, “This joint venture will take forward the Indo-Italian bilateral relationship and revolutionize the automotive components business with the introduction of digital technology by our partners and help us to expand our niche market by providing a better product to the customers”. He further added, “It would be a wonderful learning experience from our partners.”



Mr Sushant Chhabra, the Joint Managing Director of the Unitech Machines group added, “this JV will put Unitech Machines auto division in the high technology space for auto motive electronics. We would be adding value to all new generation launches of OEMs to fulfill their electronic needs for futuristic instrument clusters, body computers and telematics. MM global expertise will be available thru this JV and we look forward to our customer support”.



About Unitech Machines Group

Unitech Machines has been incorporated in 1986 and is the flagship company of the Group which has a turnover of Rs 700 Cr in fiscal 2007. Unitech Machines has been recognized as one of the most reputed diversified engineering companies in the country and has an experience in providing complete turnkey solution in infrastructure for Mega Power Plants. Unitech Machines is also OEM to all leading two and four wheeler automobile manufacturers in India and have a large product line pertaining to Rear View Mirrors, Lamp Assemblies, Switches, Aluminum Castings, Automobile Horns, etc.



About Magneti Marelli,

Magneti Marelli, a company belonging to the Fiat Group, designs, produces and distributes advanced systems and components for the automotive industry. With its 46 production facilities (56 production units) 9 R & D centres and 27 application centres in 16 countries, 28,000 employees and a turnover of 5 billion Euros in 2007, the group supplies all the leading carmakers in Europe, North and South America and the Far East. The business areas include: Powertrain, Lighting, Electronic Systems, Suspensions and Shock absorber systems, Exhaust Systems, Aftermarkets Parts & Services and Motorsport.