M.A Group exits JV with JBM Group

According to JBM Group, M.A Group decided to exit the JV as it wanted to concentrate more in the European market and hence wished to exit the Indian operations.

Pune/Italy– JBM MA Automotive Pvt Ltd of Pune, the joint venture between Italy-based Magnetto Automotive SpA and JBM Auto ltd manufactures and markets full body skin panels and major BIW parts for the auto industry. The company has announced that its Italian partner has sold its entire share in the company and offered to terminate the JV.

According to JBM Group, M.A Group decided to exit the JV as it wanted to concentrate more in the European market and hence wished to exit the Indian operations.  Despite the exit, JBM Group has stated that the joint venture will continue its operations in the country.

JBM MA Automotive Pvt Ltd. incorporated in 2007, JBM MA Automotive Private Limited is a 50:50 joint venture (JV) between JBM Auto Limited, part of the US$1.35 billion JBM Group and Magnetto Automotive SpA, Italy (MA). The JV was formed for the manufacture and supply of sheet metal parts, such as skin panels, under body panels and other auto assemblies, to Tata Motors Limited (TML), Fiat India Automobiles Private Limited (Fiat), and later on added the Volkswagen Group (VW Group) and Mahindra & Mahindra (M&M), among others to its customer list. The company began commercial production at its Pune plant in Maharashtra from January 15, 2009.  JBMMA currently supplies parts for various models of TML, Fiat, M&M and the VW Group

Magnetto Automotive SpA is the Group company specialized in the production and assembly of structural parts, components, sub- assemblies and steel modules for the automotive sector. It is present in Europe, South America, Africa, Asia and today has 22 production plants and 3 research and development centers.