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Home arrow Auto component arrow Lucas-TVS inks business co-operation agreement with Remy International, Inc
Lucas-TVS inks business co-operation agreement with Remy International, Inc Print E-mail
Written by Krishna Kumar   
Saturday, 29 October 2011
Chennai: Lucas-TVS, Ltd., the market leader in India for automotive, commercial vehicle and two wheeler starter motors, alternators and other small motors, has entered into a business co-operation agreement with Remy International, Inc, a producer of starters and alternators, headquartered in Pendleton, Indiana.

The agreements between the companies include cross-technology licenses, product sales, engineering support and supplier sourcing support.

The agreements will allow Remy to license certain products from Lucas-TVS for Remy to manufacture and sell around the world. Lucas-TVS will license certain Remy products to make and sell in India. In addition, both parties may buy and resell each other's products.

"Remy's recognized technical and operational excellence provides the foundation to pursue opportunities for geographic expansion, product extensions and new business alliances," said John Weber, President and CEO of Remy International. "This agreement with Lucas-TVS allows us to participate in India, the fastest growing automotive market in the world. It creates an opportunity for Remy to work with Lucas-TVS to develop new products and allows both companies to extend their traditional markets."

He said the companies also will work to support each other's product sourcing efforts to optimize supplier relationships globally and reduce costs.

Lucas-TVS is India's largest manufacturer of automotive electrical products, designing and manufacturing over 9 million starters, alternators and small motors. Besides serving all major global and domestic manufacturers in India, Lucas-TVS exports products to North America and Europe. The company operates seven manufacturing plants in India and has over 2500 employees.

Weber said this agreement will benefit both firms. Lucas-TVS will be able to leverage Remy product lineup and global customer relationships to reach more foreign customers who are investing in India, while Remy will take advantage of Lucas-TVS product lineup and engineering capabilities to add new products.

Lucas-TVS, based in Chennai, India, has a turnover of over $400 million and is part of the $6 Billion, TVS Group, India's largest automotive component group with over 35 companies and 25,000 employees.

Remy International, Inc is a manufacturer, remanufacturer and distributor of light duty starters and alternators and Delco Remy brand heavy-duty systems. Remy International also manufactures and distributes electric propulsion motors. Recently, Remy was recognized by the United States Department of Energy for its leadership role in the hybrid technologies space and awarded a $60 million grant under the Electric Drive Vehicle Battery and Component Manufacturing Initiative.

 
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