Friedrichshafen AG (ZF) has divested its entire equity stake in Brakes India, a
leading supplier of braking systems in the Indian market and a global supplier
of ferrous castings. The acquisition of ZF’s equity share in Brakes India by the remaining stakeholders is
India was founded in 1962 as a joint venture entity with T V Sundram Iyengar
and Sons Private Limited (TVS) as the majority partner. Recently, joint venture
partner ZF acquired Wabco Holdings, Inc and due to the resultant competitive
situation, ZF agreed to divest its entire shareholding in Brakes India to T V
Sundram Iyengar and Sons Private Limited, Sundaram Finance Holdings Limited,
India Motor Parts and Accessories Limited and Flometallic India Private
successfully worked together for over five decades with joint venture partners,
ZF will continue its technology license and supply agreements with Brakes
India. The latter has a strong in-house R&D capability, world class
manufacturing and supply chain operations with a reputation of providing high
quality products. Over five decades, Brakes India has localised and assimilated
global technologies through technology transfers. Brakes India is confident of
fulfilling all obligations to customers and suppliers on existing and new
businesses, a company release said.
V Sundram Iyengar & Sons Private Limited (TVS), established in 1911 is the
holding company of the TVS Group and is a leading automobile distribution
company in India. TVS has investments across its group companies. Sundaram Finance
Holdings Limited (SFHL) is a public limited company and has shareholding in a
portfolio of auto ancillary business, many of them co-promoted with the TVS
group, which includes Brakes India, Turbo Energy, Sundaram Clayton, Lucas TVS,
India Motor Parts and Accessories, Wheels India and Axles India. SFHL has a
shareholding in 20 portfolio companies with a total asset size of Rs. 1500
crores as of 31st March 2021.
Motor Parts and Accessories Limited (IMPAL), an affiliate of TVS is a public
limited company, and its shares are listed in National Stock Exchange. IMPAL is
one of the largest distributors for automobile spares and accessories across
India and deals in engine group components, brake systems, fasteners,
radiators, suspensions, axles, auto electricals, wheels, steering linkages,
instrument clusters etc.
India Private Limited (FIPL), is an affiliate of TVS having its registered
office in Chennai. FIPL is engaged in the manufacture of iron castings,
predominantly for the automotive industry, which are used in several safety
critical applications including brake parts and steering parts. FIPL has its
manufacturing facility in GIDC Industrial Estate in Jhagadia, Gujarat.
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