Aichi To Invest In Vardhman Group For Auto Grade Steel
Steel Insights|September 2019
Aichi Steel Corp of Japan an affiliate of Japan’s Toyota Motor Corporation has decided to guy approximately 11.4 percent stake in Vardhman Special Steels and provide technical assistance aiming to establish a world class special steel company in India.

The 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.

“In addition to investing approximately 11 percent of issued shares after capital increase, we agreed to provide technical assistance to Vardhman. The demand for special steel in India is expected to expand further due to the growth of the automobile industry. Based on this capital investment and technical support, the foundation of the special steel business will be strengthened by improving global quality and cost competitiveness,” Aichi said in a release.

“First of all, we will have Japanese staff stationed in Vardhman from our company to provide strong technical support, and we will consider further strengthening relationships and expanding business while monitoring market trends,” it added.

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