Tata International Ltd and GST Autoleather Inc announce the signing of a letter of intent and an agreement to form a joint venture in India
February 28, 2014
Tata International Limited, a leading manufacturer and exporter of leather and leather products based in India and a supplier to the Automotive Industry, and GST Autoleather Inc announced today that they have entered into an agreement to form a JV Automotive Leather Company head quartered in Mumbai, India with operations in Dewas, India in order to supply automotive leather products to the expanding Indian Original Equipment market and other export markets.
In making the announcement, Mr Noel N Tata, Managing Director, Tata International Ltd and Dennis Hiller, President and CEO, GST AutoLeather, Inc said ”At closing, this Joint Venture brings together two great 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. We look forward to establishing the trust and confidence of our customers and to beginning the process of building a premier automotive leather company in India”.
The new company will be known as TATA International GST Auto Leather Limited. The formation of the Company is expected to occur within the next 60 days.
About TATA International Ltd:
Tata International Limited [TIL], is the global trading and distribution company of the Tata group. Established in 1962, TIL’s key business lines are leather and leather products, metals trading, minerals trading, distribution (auto and allied) and agri trading with a presence in manufacturing and supply chain integration in select businesses. The company operates through its network of offices and subsidiaries across 38 countries, spanning Africa, Europe, Middle East, Latin America and Asia and has spearheaded forays into new geographies for the group. Besides, TIL has been a forerunner of the Indian industry in Africa.
Over the years, TIL has formed strong strategic alliances and partnerships that have reinforced its role in international trade and business. With a turnover of USD 1.2 billion (2012-13), the company is supported by about 6500+ strong employee base.
The company is deeply committed to being a proactive and responsible member of the community and the environment in which it operates. Stringent goals for the reduction of our carbon footprint and greenhouse gases in the leather plant and other facilities, coupled with initiatives for empowering local communities in equal measure, drives the company’s long term sustainability agenda. Winner of several prestigious national awards and International certifications for Environment and Quality, it is also a signatory to the UN Global Compact.
About GST AutoLeather:
GST AutoLeather Inc. (www.gstautoleather.com) is headquartered in Southfield, Michigan, and is a proud supplier of some of the world’s finest automotive leather interior trim. GST AutoLeather has operations and strategic alliances in the United States, Mexico, Japan, China, Korea, Germany, Hungary, South Africa, Dominican Republic, and South America. Many of the industry’s most prestigious automobile companies turn to GST AutoLeather for its innovation, customer service, quality and dependability. GST AutoLeather’s engineers and technical experts work hand-in-hand with many of the world’s Original Equipment and Tier I Manufacturers to conceive, design and develop new generations of leather for the global automotive market. In support of its expansion plans and global growth strategy, GST manages sales operations in various global markets.
For further information please contact:
Sabina Lama | Sabina.lama@edelman.com | +91 9819592389
Preetha Iyer | Preetha.iyer@edelman.com | +91 7506058823
