Sona BLW Precision Forgings (Sona Comstar), among the leading automotive technology and components manufacturers, on Monday said that the board has decided to put its proposed joint venture with China’s Jinnaite Machinery Co. Ltd. (JNT) in abeyance.
Both companies have agreed to suspend the JV plans for now, though they remain open to future collaboration on select foundry products. The binding term sheet executed in July 2025 has been rescinded.
“The parties have mutually agreed to put the proposed JV in abeyance. The parties, however, have expressed their willingness to cooperate with each other on select foundry products and remain open for collaboration in the future. The term sheet executed by the parties for the proposed JV on July 20, 2025, is rescinded,” said the company.
New M&A Head
Additionally, the company announced the appointment of Pratik Sachan as Head – Strategy & M&A and designated him as Senior Management Personnel (SMP). Sachan, who has been with Sona Comstar for over six years, brings more than 15 years of experience in strategy, M&A, and investor relations. He holds a B.Tech in Mechanical Engineering from IIT Guwahati and an MBA from the Indian School of Business (ISB).
