The Bosch Group and Mann+Hummel Filter GmbH have signed an agreement to establish an equal joint venture for the development and production of filter systems in India.
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Bosch owns 50% of shares in the venture, divided between two of its subsidiaries; Robert Bosch Investment Nederland BV and the Indian Motor Industries Company Ltd. (MICO), which will be based in Tumkur, in the Indian State of Karnataka.
The other 50% is held by Mann and Hummel Filter Private Ltd. a subsidiary of Mann+Hummel GmbH.
The joint venture will develop and produce filter systems including oil, fuel, air and interior filters for the Indian market and export.
Filters will also be sold to aftermarket, workshop and industrial sectors.
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By GlobalDataProduction is planned to commence by mid-2006 using around 350 employees. The joint venture is an investment of around €6 million.
Bosch has been active in India since 1922 and now owns a 60.5% stake in MICO, which was founded in 1951 and is the largest automotive business in the country.
