Sona Koyo Steering Systems Ltd is planning to undertake the Japanese largest trading venture Mitsubishi Corporation with 25% stake hold. The news revealed by the person, who is closely linked to this new partnership.
As per the reports, Mitsubishi Corporation has the annual turnover of Rs 2,500 crore and the company is very close to binding up the deal in this week. The deal is planned by Sona to improvise its forging business.
An official said, "The group has decided to increase focus in forging business in which it believes it has a competitive advantage and the ability to scale up. After consolidating ownership in Sona BLW, it will focus on increasing its presence in the domestic and global markets. "
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