TOKYO (Dec. 5, 2008) — Bridgestone Corp. and Sundaram Industries Ltd. are setting up a joint venture in India that will make automotive antivibration rubber components.
Bridgestone TVS India Ltd. will start up next spring, Bridgestone said, with 51-percent of the firm owned by the Japanese partner and and the remainder by Sundaram, which is a member of India's TVS Group. The venture plans to open a facility in Chennai in India's Tamil Nadu State, capitalized at about $7.3 million and employing approximately 700.
Bridgestone has had a technical agreement since 1996 with Sundaram, which is a major producer in India of antivibration products for automobile engines and chassis.