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Wabco India, which manufactures air brakes for commercial vehicles, is setting up an assembly unit in Lucknow, which will cater to its customer base in the North.
Currently, Wabco India is serving clients in the North through its Chennai facility. “Our customer Tata Motors has a facility in Lucknow; Ashok Leyland has a unit in Pantnagar. We hope the Lucknow plant will cater to these clients soon. Operations will start in FY2012-13,” said Mr P. Kanniappan, Wholetime Director, Wabco India. Around Rs 10 crore will be invested in this plant.
The company’s total investment in India operations this year will be around Rs 60 crore. Wabco India, a subsidiary of Belgium-based Wabco Holdings, was till recently called Wabco-TVS.
Wabco India was originally formed as a joint venture in 1962 between TVS group and Clayton Dewandre Holdings (CDH). CDH was subsequently taken over by Wabco. In 2009, Wabco took majority ownership by acquiring TVS group stake in the Indian subsidiary. Currently, Wabco holds 75 per cent, while 25 per cent is publicly traded. Even after Wabco and TVS parted ways, the company was allowed to use the ‘TVS’ name for some time. In August 2011, Wabco TVS was renamed Wabco India.
With a new brand identity, Wabco Holdings hopes its Indian subsidiary to be a potential manufacturing hub for global markets, according to Mr WABCO Chairman and CEO Mr Jacques Esculier.
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