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Talbros forms 50:50 JV with Magneti Marelli for suspension systems & modules Print E-mail
Written by Vijay, James   
Friday, 18 November 2011
Mumbai: India's largest gasket manufacturer, Talbros Automotive Components Limited (TACL) and Magneti Marelli, through its subsidiary company Sistemi Sospensioni S.p.A, signed agreements for formation of a 50:50 Joint Venture to undertake the business of suspension systems and modules.

The JV is expected to be operational by April 2012, and TACL shall transfer its existing stamping business to this JV, after obtaining shareholder approval. The JV will start its operations in Faridabad, Haryana, and will manufacture various components including control arms, knuckles, front axles and rear axles for automobile applications.

It will also have the capability to design and manufacture entire suspension systems for the OEMs. Additional manufacturing facilities across India would be evaluated in near future.

Magneti Marelli will support the JV with its design & technology know-how referred to a full spectrum of suspension components and modules, allowing the JV to offer in the Indian market the most advanced light-weight solutions in line with carmakers’ requirements for emission compliance.

"The JV agreement with Talbros allows us to further extend our presence and footprint in India, adding a business area - the suspension systems - in which we have consolidated know-how and long-time industrial experience. We applied once again our strategy of partnering with Indian leading companies, that up to now has brought good result in our process of localization in the country and that enables us to add value to local clients and major transnational car-makers in the country," said Eugenio Razelli, CEO of Magneti Marelli.

"It is a great value proposition for the shareholders of the Company as the joint venture with Magneti Marelli will create a specialized suspension manufacturer with immense growth potential. Talbros’ knowledge of the Indian market and existing customer base will have synergies with Magneti Marelli’s state-of-the-art technology and international expertise to create huge value in the joint venture company," said Umesh Talwar, Vice Chairman and Managing Director of TACL.

TACL is a part of the Talbros Group. The Talbros Group manufactures gaskets, forgings, suspension components, stampings and rubber components for automotive applications. Talbros Group registered a consolidated revenue of Rs 720 crores for FY 2010-11.

Sistemi Sospensioni S.p.A is a wholly owned subsidiary of Magneti Marelli. Magneti Marelli designs and produces advanced systems and components for the automotive industry. With its 77 production units, 11 R&D centres and 26 application centres in 18 countries, about 34,000 employees and a turnover of 5.4 billion Euros in 2010, the group supplies all the leading car-makers in Europe, North and South America and the Far East. Its business areas include: Electronic Systems, Lighting, Powertrain, Suspension systems, and Shock absorbers Exhaust systems, Aftermarket Parts & Services, Plastic Components and Modules, Motorsport. Magneti Marelli is part of Fiat S.p.A.

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