News 

Kaba increases stake in Minda Silca 

Rümlang, 24 August 2010 – Kaba subsidiary Silca has increased its stake in the Minda Silca joint venture from 50% to 65%. This move is intended to further strengthen the Minda Silca role in Silca's worldwide manufacturing platform and its position in India's growth market.  

Minda Silca, based in Noida (near New Delhi, India), was established in 2006 as a joint venture between the Kaba subsidiary Silca S.p.A. and the Indian Minda Group. The company manufactures keys and key cutting machines for the key replacement business and the OEM sector. Since its establishment, the joint venture has continually expanded its activities. 

Silca has now increased its stake in the company from the original 50% to 65%. As a consequence, the joint venture will be fully included in Kaba Group's consolidation. 

"Minda Silca is not only a modern production facility with highly qualified employees but also a sales hub in the fast growing Indian market. The collaboration between Minda and Silca has been particularly successful in the area of joint product developments, including the Silca DUO key cutting machines, and the Silky line of keys. Our move is intended to further build on this extremely successful partnership," says Roberto Gaspari, COO Key Systems Europe/Asia Pacific. 

Minda Silca generates annual sales of around CHF 12 million. The parties have agreed not to disclose the purchase price.