Automotive components manufacturer Joysons Safety Systems (JSS) announced merger of its two joint ventures in India into a tri-party joint venture. KSS Abhishek Safety Systems Private Limited (KSSA) which is a joint...
Bharat Forge invests 11.35 million Euros in a new joint venture to make EV component
Automotive component maker Bharat Forge NSE -0.64 % on Friday announced an investment of 11.35 million Euro (Rs 88.9 crore) into a new 50-50 joint venture with Germany’s Refu Electronik GmbH. The new entity will make...
Tata AutoComp enters into a 50:50 joint venture with South Korea’s SECO Seojin to diversify in clutch market
In a bid to diversify its automotive footprint, Tata Group’s Automotive parts subsidiary, Tata AutoComp Systems Limited has entered into a 50:50 JV with SECO Seojin of South Korea to design, develop and...
Tata International exits trailer manufacturing biz by selling its arm to Canyon Point for Rs 305 cr
The country’s largest selling trailer maker, Tata International DLT, a 50:50 joint venture company between Tata International Limited and Sri Lanka based Dutch Lanka Trailer Manufacturers (DLTM) Friday said it has...
Japan’s Daifuku buys 100% stake in Vega Automation for undisclosed sum
Japanese material handling equipment supplier Daifuku Co., Limited has acquired Hyderabad-based warehouse automation company Vega Conveyors and Automation for an undisclosed sum. Vega will become a 100 percent...
Japan’s JTEKT merges its India auto parts units to improve financials
JTEKT Corp., one of Japan’s biggest auto parts makers, expects as much as four-fold increase in the revenue share from India following the merger of two local units to create a bigger entity. Hidekazu Omura, chairman...
Mahindra CIE acquires Aurangabad Electricals for ₹830 crore
Mahindra CIE Automotive Ltd has acquired Aurangabad Electricals Ltd for ₹830 crore, marking its entry into the aluminium die-casting industry. The acquisition will also strengthen its presence in the two-wheeler market...
Harita Seating Systems of TVS Group to merge with Minda Industries
TVS group company and largest auto seating systems manufacturer Harita Seating Systems (HSSL) has decided to merge with leading auto components maker Minda Industries, part of the Uno Minda group, through a composite...
ABB India board approves hiving off power grids business
ABB India Wednesday said its board has given ‘in principle’ approval to segregate the power grids business from its other businesses. “The Board of Directors of the Company discussed segregation of the...
NCLT allows fresh bidding for Amtek
A Chandigarh bankruptcy court on Wednesday allowed a fresh round of bids to resolve Amtek Auto’s debt more than 18 months after the company was put into administration for its failure to repay about? 12,000 crore to...
NCLAT asks Liberty House if it will go ahead with Amtek Auto resolution
The National Company Law Appellate Tribunal (NCLAT) has asked if UK-based Liberty House is willing to go ahead with its resolution plan for the debt-ridden Amtek Auto in which it has emerged as the highest bidder. The...
Sigma completes exit from JV companies with sale of shares
Automotive component manufacturer and supplier Sigma Group has made a strategic exit from its joint venture companies — Sigma Freudenberg NOK (SFN) and Sigma Vibracoustic India Limited (SVIL) — with the last tranche of...
