Global Automotive Component manufacturer  Spark Minda, Ashok Minda Group has entered into a Joint Venture partnership with “Vehicle Access Systems Technology Llc.(VAST)”, USA, a group with a global presence as valued supplier of strategic vehicle access components and systems to targeted global customers and known for “Key solutions for automotive world”.

This joint venture entity between two groups named as Minda VAST Access Systems Private Limited (“Minda VAST”) will have operations in Pune and Delhi-NCR.

VAST, USA is a highly qualified, global supplier of security/ access control products for the motor vehicle industry. It will support to the Joint Venture for – the locksets, steering column locks, latches, strikers, socket bows, handles, immobilizers, passive entry, start systems, ignition switches, hinges, power access etc. With approx. 1.2 bn USD in sales and around 8,000 employees, VAST is one of the global market leaders in the access systems business.

The manufacturing facilities are based at Germany, Mexico, Czech Republic, US, China and Brazil. The Group is an alliance of three Member Organizations and related operating entities that is directed by a single management team in order to effectively serve global customers. The Member Organizations of VAST are WITTE Automotive from Velbert/ Germany, STRATTEC Security Corporation from Milwaukee/ WI and ADAC Automotive from Grand Rapids/ MI (both USA).

The Joint Venture is a 50:50 partnership between VAST Group and Minda Management Services Limited, an affiliate of Minda Corporation Limited and Spark Minda, Ashok Minda Group of New Delhi, India. The new collaboration is expected to further strengthen the partnership between the two groups.

Mr. Ashok Minda, GCEO, Spark Minda, Ashok Minda Group said, “We are delighted to have partnered with VAST. The strategic alliance is step towards ensuring support to meet the expectation of targeted and strategic customers. VAST’s global presence will help us to reach out to more areas and expand our base & offer new technology with latest products to our Customers”. Mr Ashok Minda further commented that this Joint Venture will act as a catalyst for the future growth of Spark Minda, Ashok Minda Group.

On this Joint Venture, Mr. Frank Krejci, President & CEO of STRATTEC commented: “We are very excited to join a partner with the history of success and capabilities of Spark Minda and its affiliates.  We view them as a leading company in the Indian market and they have also been very effective in playing an important role in supporting global programs.”