Financial Daily from THE HINDU group of publications
Thursday, Dec 22, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 22, 2005 |
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Corporate
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Announcements KBX Motorbike's first board meet in Pune on Jan 24 Our Bureau
Pune , Dec. 21 KBX Motorbike Products Pvt Ltd, the 50:50 joint venture between BOSCH's Indian subsidiary, Kalyani Brakes, and the Italy-based Brembo, will hold its first board meeting here on January 24.The new company will export two-wheeler hydraulic brake products to Asia and through Brembo to markets in Europe, its Managing Director, Mr Satish Sekhri, told Business Line. "While the market for the product has matured in Asia and Europe, the penetration in the Indian market is fairly low but expected to pick up over the next few years,'' Mr Sekhri said. The product, which is used in top-end motorcycle models, has a penetration level of over 50 per cent in the Asian markets. The penetration level in the Indian market is at 12-15 per cent. A press statement from Bosch, it may be recalled, had earlier said the total investment of the two partners would be 13 million euros. The turnover, put at 20 million euros in the first year, is expected to double in the next four years. Kalyani Brakes will integrate its existing two-wheeler brake production into the joint venture. As per the agreement, Brembo will contribute licences and technology towards the new joint venture company. The Bosch Group recently doubled its stake in Kalyani Brakes to 80 per cent. Kalyani Brakes manufactures conventional brake systems and components with plants in Jalgaon, Pune, and Manesar. The company's turnover in the last fiscal stood at Rs 358 crore and the first half of the current fiscal turnover touched Rs 196 crore. Meanwhile, KBX is all set to officially change its name to Bosch Chassis Systems India on January 1.
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