# Tsubaki Group makes Indian joint venture wholly owned subsidiary

Tsubakimoto Chain Co.'s subsidiary Tsubakimoto Bulk Systems Corp. acquired an additional 49% stake in Mahindra Tsubaki Conveyor Systems Private Limited (MTC) in India, making it a wholly owned subsidiary. The company will be renamed Tsubaki Conveyor Systems India Private Limited.

- Type: Acquisition
- Announced: 2022-02-28
- Where: Pune, Maharashtra, India
- Status: completed
- Products: bulk handling conveyors, unit material handling products
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Tsubakimoto Chain Co](https://endata.com/companies/31490.md) (acquirer)
- [Tsubakimoto Bulk Systems Corp.](https://endata.com/companies/61316.md) (acquirer)
- [Mahindra Tsubaki Conveyor Systems Private Limited](https://endata.com/companies/61317.md) (target)

## Sources

- [tsubakimoto.com](https://tsubakimoto.com/company/news/press/2022/02/28/1/), 2022-02-28: "Tsubakimoto Chain Co. announced today that its consolidated subsidiary, Tsubakimoto Bulk Systems Corp., had acquired an additional 49% stake in Mahindra Tsubaki Conveyor Systems Private Limited, making it a wholly owned subsidiary"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.