ASK Automotive Limited enters into strategic partnership with Kyushu Yanagawa Seiki Co., Ltd.

ASK Automotive Limited, India's largest brake shoe and advanced braking systems manufacturer for two-wheelers, today announced signing of Technical Assistance and License Agreement for Cast Wheel Production (Agreement) with Kyushu Yanagawa Seiki Co., Ltd., Japan (KYSK) for manufacturing high pressure die casted alloy wheels for two-wheeler (Products) with KYSK offering technical expertise and knowledge sharing under the Agreement.

The Products to be manufactured under the Agreement will be supplied to the identified Japanese customer (Identified Customer).

The Company aims to design, develop, and manufacture high-quality Alloy Wheels to add value for two-wheelers that will ensure safety, align with world-class standards, and deliver products of superior performance.

Speaking about the strategic partnership with KYSK, Mr. Kuldip Singh Rathee, Chairman and Managing Director, ASK Automotive Limited, said, "With over three decades of experience in the Indian automotive industry, we have a deep understanding of the market and the needs of OEMs. Today, alloy wheels have become a critical component across all segments, especially in two-wheelers, ranging from premium-level to entry-segment. Our legacy and expertise in Aluminium Light Weighting Precision Solutions will support the development of high pressure die casted alloy wheels for two-wheeler. Our partnership with KYSK will facilitate us with critical technical assistance and know-how, helping us meet the required standards and manufacture the best in class products for our Identified Customer."

Shares of ASK Automotive Limited was last trading in BSE at Rs. 339.55 as compared to the previous close of Rs. 365.45. The total number of shares traded during the day was 62144 in over 4246 trades.

The stock hit an intraday high of Rs. 356.45 and intraday low of 333.85. The net turnover during the day was Rs. 21139540.00.

Source : Equity Bulls

Keywords

ASKAutomotive AutoComponents Equipments INE491J01022 StrategicPartnership KyushuYanagawaSeikiCo