International trading arm of the Tata Group, Tata International Ltd, which is a manufacturer and exporter of leather and leather products as well as a supplier to the automotive industry, said on Tuesday it is in agreement with GST AutoLeather Inc to form a JV company, which will be headquartered in Mumbai.
With a signed letter of intent, Tata International have an agreement to form the venture Tata International GST Auto Leather Ltd. and it is expected to form within the next two months.
Based in Michigan, GST AutoLeather has production facilities and sales offices across four continents and the JV will supply automotive leather products to the expanding Indian original equipment market and other export markets, as detailed in a press release.
"This joint venture brings together two companies with a long heritage in the leather business. TIL with its deep experience in producing leather for the Indian market and GST's global automotive experience brings together two companies that share common values and a relentless pursuit of excellence", Tata International managing director Noel N Tata said.
"We look forward to beginning the process of building a premier automotive leather company in India," said Dennis Hiller, president and CEO of GST AutoLeather.
Stay tuned to leathermag.com for further updates on this story.