The Bosch Group has hiked its stake in Kalyani Brakes Ltd by an additional 40 per cent, elevating its total stake to 80 per cent. An agreement to this effect was reached recently. Kalyani Brakes was previously operated as a joint venture between Bosch and the Kalyani Group, each with a 40 per cent holding. Bosch plans to rename the company as Bosch Chassis Systems India Ltd. The takeover of Kalyani Brakes is said to be part of Boschs plan to extend its worldwide manufacturing base for modern braking systems to India, including manufacture of the antilock braking system (ABS). Kalyani Brakes is a leading Indian brake manufacturer.
It manufactures conventional braking systems and components for passenger cars, tractors, 3 wheelers and two- wheelers in its plants in Jalgaon, Chakan, and Manesar. The company employs roughly 1,800 associates and in the fiscal year 2004/2005 generated sales of 63 million euros (Rs 357 crores). Kalyani Brakes, according to industry sources, supplies braking systems to the export models of Indica, Safari, etc.
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| Posted : 8/22/2005 |
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