Uno Minda enters into Technical License agreement with Ascentec, Korea

Uno Minda Limited ("Uno Minda") (formerly known as Minda Industries Limited), a Tier-1 supplier of proprietary automotive solutions and systems to original equipment manufacturers ("OEMs") has announced that it has entered into Technical License agreement with Asentec Co Ltd. ("Asentec") of Korea, a leading global supplier of Automotive sensors and actuators, to design, develop, manufacture and market wheel speed sensors in India.

Asentec, a subsidiary of Sejong Industrial, specialises in mobility parts centered on sensors and actuators with manufacturing facilities in Korea, Vietnam and China. Asentec is leading suppliers to OEMs in Korea and international market.

Uno Minda had set up separate division for Automotive Sensors few years back considering the rising demand of the evolving technology in Sensor space. SensQr division has come a long way since its inception with manufacturing of Engine and Exhaust Sensors, Transmission& Suspension Sensors and active safety and comfort sensors among others. The current partnership with Asentec will further strengthen its advance sensors product portfolio.

Shares of Minda Industries Limited was last trading in BSE at Rs. 539.80 as compared to the previous close of Rs. 539.10. The total number of shares traded during the day was 13052 in over 1339 trades.

The stock hit an intraday high of Rs. 542.95 and intraday low of 535.05. The net turnover during the day was Rs. 7050281.00.

Source : Equity Bulls

Keywords

UnoMinda INE405E01023 TechnicalLicenseAgreement Asentec Korea