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Automotive Product Finder Magazine | Toyota’s affiliate firm Aichi steel picks 11.4% stake in Vardhman Special Steels
Toyota’s affiliate firm Aichi steel picks 11.4% stake in Vardhman Special Steels
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Aichi Steel Corp, an affiliate of Japan’s Toyota Motor Corporation, will buy approximately 11.4 per cent stake in Vardhman Special Steels Ltd and provide technical assistance aiming to establish a world class, socially and environmentally responsible special steel company in India. This company will be capable of supplying steel for critical and special applications for today and tomorrows automotive industry. Aichi Steel will be posting three personnel in India while additional critical support from the headquarters will be provided constantly.
The complimentary portfolio of management, product, technology and services offered by Aichi Steel provides the end users with the special steel backed up by years of expertise and recognised technology. This will help Vardhman Special Steels to expand its size and markets in years to come.
“One of our key objectives of this partnership is to develop special steel grades for automotive companies in India so as to help fill the gap of providing substitution of steel that is currently being imported. We plan to later export this special grade of steel to South Asia and Europe as well,” said Sachit Jain, Vice-chairman & Managing Director, Vardhman Special Steels Limited.
Aichi Steel Picks
Vardhman Special Steels
Aichi Steel Corp
Japans Toyota Motor Corporation
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