Yazaki Corporation has agreed to purchase all the company shares of Tata Yazaki Autocomp (TYA), its Indian wire harness manufacturing and sales joint venture company.

The 50:50 joint venture between Yazaki Corporation and Tata Autocomp Systems was established in 1997 for the manufacturing and sales of automotive wire harnesses and related components. Capitalised at INR1bn (US$18.2m), TYA will become a wholly-owned subsidiary of Yazaki Corporation through the purchase of the 50% share held by Tata Autocomp Systems.

The new company name will be firmed upon completion of various procedures for the purchase of shares in January 2013. The new company structure will be dedicated to further business expansion.