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Magneti Marelli and Endurance form JV to manufacture Shock Absorbers Print E-mail
Written by Ganesh   
Tuesday, 17 June 2008

Agreement between Magneti Marelli and Endurance in India: Joint Venture for Shock Absorbers

New Delhi, India: Magneti Marelli and Endurance Technologies Pvt. Ltd. have signed a Joint Venture Agreement (JVA) aimed at the production of shock absorbers for motor vehicles in India & Thailand.

According to the terms of the agreement, the Joint Venture Company (JVC) will be owned by Endurance Technologies & Magneti Marelli in the ratio of 50% +1 share (Endurance Technologies) and 50% -1 share (Magneti Marelli). The JVC is set to be operative by the first quarter of 2009.

Facilities in Chakan and Thailand

The industrial facilities will be located in Chakan, in the region of Pune, Maharashtra.  Another production unit is also planned in Thailand, near Bangkok, where the Endurance Group is already present.

The JVC will specifically deal in the design, production and marketing of shock absorbers – including semi-corner modules and gas springs – for cars and commercial vehicles.

The products made by the JVC will be aimed at local and international car makers operating in the Indian continent and in nearby regions.

“The agreement with the partner as important as Endurance, leader in India and with an international industrial imprint” – commented Eugenio Razelli, Magneti Marelli’s CEO – confirms our strategy to be directly present in one of the most strategic markets in the world.  The combination of our technologies, broad product range, innovations such as the electronic dampening system of “SDC” suspensions and our global presence makes our offer in the shock absorbers field a very competitive one, capable of satisfying new strategic markets such as, for example, the BRIC – Brazil, Russia, India, China – region and Turkey.

Endurance is an international group specialized in Aluminium Die Casting and specifically in the production of vehicle components and systems such as suspensions, transmissions and braking systems.  Endurance also has presence in Italy, with production facilities at Turin and Bologna and in Germany with production facility at Massenbachhausen.

Thanks to this agreement, Magneti Marelli consolidates its global footprint in the shock absorbers sector.  In addition to this JVC, Magneti Marelli also has a consolidated presence in South America, the U.S and Poland, with an industrial mission addressed to both OE manufacturers and the Aftermarket.

Magneti Marelli, a company belonging to the Fiat Group, designs, produces and markets advanced systems and components for motor vehicles.  With its 46 production facilities (56 production units), 9 R&D centers and 27 application centers in 16 countries, 28,000 employees and a turnover of 5 billion Euros in 2007, the group supplies all the leading car makers in Europe, North and South America and the Far East.  The business areas include: Power train – Suspensions and Shock Absorber systems – Lighting – Electronic systems – Exhaust Systems – Aftermarket Part & Services – Motor sport.

About The Endurance Group:

The Endurance Group began in 1985. The main business of this Group is in the field of Auto components comprising mainly of two streams: Aluminium Die casting products, that contributes to about half of the domestic turnover and the other being Proprietary products consisting of suspension, braking and transmission systems. The company, currently enjoying cost and quality leadership in its field is highly people focused and believes in providing optimum solution to its wide customer base.

Last year Endurance Technologies made three international acquisitions (Italian companies Nuova Renopress & Fondalmec and Germany-based Amann Druckguss). The group is also developing a number of components for the Tata - Nano mainly gear housing, engine castings and bracket. Endurance Group will provide CVT housing also. Endurance Group has invested Rs. 35 crores to set up a facility in the Tata Vendor Park for small cars project at Singur. The facility spreads over 8 acres. In the first phase components supplied would be 2 to 2.5% parts of the Tata Nano.

The Endurance Group today has a customer list of who’s who of the two and four wheeler auto OEMs in the country. The group also exports goods worth over INR 75 crores to the US and European and Asian markets.

The group this year has been awarded the “Best Component Manufacturer of the year” by NDTV Profit in their Car and Bike Award Show held during the Auto Expo 2008 and also by Auto Monitor.

Last Updated ( Tuesday, 17 June 2008 )
 
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