Champion Announces Indian Venture
Apr. 03, 1986
TOLEDO, Ohio (AP) _ Champion Spark Plug Co. says it will make spark plugs for the Indian market under a new venture with a New Delhi company.
Toledo-based Champion announced Wednesday that it will form a new company, Modi Champion Ltd., as a joint venture with Modi Industries Ltd.
Modi and Champion will each own 40 percent of the new company's stock, Champion said. The rest will be offered publicly in India.
Champion said construction of a plant in India will begin late this year and production will begin in mid-1987. A site for the plant has not been determined.
Champion spokesman Tony Mougey said start-up costs and other financial details of the venture will not be disclosed.
About 2,500 United Auto Workers members in three states and Canada have been on strike against Champion since Feb. 1 over a contract dispute.
The strike affects plants here and in Cambridge, Ohio; Detroit; Burlington, Iowa, and Windsor, Ontario
No talks have taken place since the strike began.
Mougey said the new plant would have no effect on the strike.
Daniel J. Savarese, vice president of international operations for Champion, said the automotive industry is growing rapidly in India and additional spark plug production will be needed.