Comments
Rane (Madras) Ltd, a leading manufacturer of steering and suspension products and light metal casting components, has acquired steering components business (SCB) of Yagachi Technologies Private Ltd (YTPL), a part of Hical Group, for an undisclosed sum.
The company said its board on Wednesday approved the acquisition, according to a company statement.
SCB posted a revenue of ₹35.50 crore in FY21. It manufactures steering and suspension components such as inner ball joints (IBJ) and outer ball joints (OBJ). The division’s major customers include Mando India, which in turn serve OEMs such as Hyundai, Kia, Mahindra, etc.
SCB has a technical collaboration with a leading South Korean ball joint company.
“The acquisition of the steering components business of Yagachi will enhance RML’s leadership position and share in the domestic passenger vehicle market and provide an opportunity to enter export vehicle platforms in new geographies,” said Harish Lakshman, Vice-Chairman, Rane Group.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.