DENVER (Sept. 10)—Gates Rubber Co. and Nitta Corp. have agreed to set up a joint venture power transmission belt plant in India. Gates Unitta India Co. Pvt. Ltd. will be owned 51 percent by Gates and 49 percent by Nitta, and operated by the firms' joint venture company, Gates Unitta Asia Co. The Chennai, India, facility will start up next January and include belt processing, warehousing and distribution, sales and marketing and application support operations. The factory will produce synchronous, Micro-V and V-belts and related products for the South Asian automotive and industrial markets. No financial details about the project were provided.
Gates, Nitta to open power transmission belting plant in India
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