Coimbatore-headquartered automotive component supplier Pricol is looking to acquire Sundaram Auto Components’ injection moulding business through Pricol Precision Products for INR 2.15 billion. The company expects this move to add INR 7.3 billion to its topline revenue.

At present, Sundaram Auto Components operates six manufacturing facilities across India. The acquisition will enable Pricol to expand its customer base and product offerings.

Vikram Mohan, MD, Pricol, said, “I express immense pride in welcoming the talented team at SACL into the Pricol family. With this acquisition, our focus will remain on harnessing the combined potential of Pricol and SACL, to become an integrated solution player, driving innovation, and delivering sustainable growth. SACL’s expertise and value systems perfectly align with our vision and core values which will enable us to meet the demands of our customers. This acquisition is a significant step towards realizing our commitment to a sustainable and transformative growth.”

K Gopala Desikan, Group CFO, TVS Motor Company, said, “SACL has played a vital role in the TVS group for many years, establishing a significant presence in the Indian automotive component industry. As market dynamics evolve, and we allocate capital more efficiently in accordance with our strategic plans, we are delighted that Pricol, our trusted long-term supplier partner, is taking over the business. We are confident that they will uphold the same values and ethos, ensuring a smooth transition and continued growth.”

Siddharth Manoharan, Group Director of Strategy, Pricol, added, “With the acquisition of SACL’s injection moulding business, Pricol makes a strategic move towards solidifying its long term vision of strengthening and expanding its leadership position in the Automotive Industry. Through focussed and well-defined products and solution offerings, we aim to redefine industry standards with clear roadmap for growth whilst creating lasting value for all of our stakeholders.”

Tata AutoComp Systems, one of the leading automotive components manufacturers, has appointed Manoj Kolhatkar as its new Managing Director and CEO.

Kolhatkar marks his return to the Tata Group, where he had earlier spent 22 years across functions at Tata AutoComp Systems as well as Tata Motors. In his last role, he served as the MD of Gabriel India and later as Group Co-COO at Anand Group.

Arvind Goel, Chairman, Tata AutoComp Systems, said, “It gives me great pleasure to welcome Manoj Kolhatkar to the Tata AutoComp family. His extensive industry knowledge, visionary leadership, and track record of driving transformative growth align perfectly with Tata AutoComp’s mission to innovate and excel. As we navigate an exciting phase of expansion and diversification, Manoj’s strategic acumen and commitment to excellence will undoubtedly propel us to new heights.”

Manoj Kolhatkar, said, “I am deeply privileged to join Tata AutoComp Systems as Managing Director and CEO. TACO has established itself as a trailblazer in the automotive industry, and I am excited to lead the organisation in its next phase of innovation and global expansion. Together with our talented team and valued partners, we will strive to deliver transformative solutions, strengthen our foothold in diversified industries, and create sustainable value for all our stakeholders. I am committed to upholding TACO’s legacy of excellence while shaping a future of growth and opportunity.”

Pune-based component maker Carraro India has got final approval from the Securities and Exchange Board of India (SEBI) to raise INR 18 Billion through an Initial Public Offering (IPO).

Established as a subsidiary of Carraro in 1997, it started manufacturing transmission systems in 1999 and axles in 2000. The company has grown as a leading leading supplier of transmission systems for tractors and off-highway vehicles, and agricultural and construction equipment.

It operates two manufacturing plants in Pune: one for drivelines and one for gears. These facilities are equipped with advanced technologies for casting, machining, assembly, prototyping, testing, painting, and heat treatment. In FY2024, the company claims its driveline manufacturing plant had a capacity utilisation of 81.07 percent and gears manufacturing plant of 89.94 percent. It is a leading supplier to 38 manufacturers in India and counts the likes of CNH, TAFE, Mahindra and Mahindra, John Deere India, Escorts Kubota, Action Construction, and International Tractors among its clients.

Carraro India has also established a dedicated R&D unit christened Carraro Technologies India for new products.  

Suprajit Engineering, one of India’s leading automotive cable and halogen bulb manufacturers, has signed a Memorandum of Understanding (MoU) with Chuo Spring Company, Japan (CHUO).

The collaboration includes a 50:50 joint venture (JV) in India to design, manufacture, and supply transmission cables, and a Technical Assistance (TA) agreement, which grants the JV access to Chuo’s unique Japanese transmission cable technology.

The association will deliver projects for two leading Japanese passenger vehicle manufacturers in India.

In what is seen as a win-win situation for the partners, the association will enable Chuo to extend its transmission cable technology to the Indian market, while Suprajit will also benefit from making smart inroads with its global OEM customers.

Chuo has a global footprint with plants in US, China, Indonesia, and Thailand and consolidated revenue USD 675 million.

German bearings manufacturer major Schaeffler is restructuring its global operations, which it said is aimed at securing a long-term increase in its competitiveness. 

The structural measures in Europe outside of Germany mainly focus on Bearings & Industrial Solutions that is grappling with continuing economic weakness, structural problems, and increasingly intense competition.

Declining Internal Combustion Engine (ICE) technology products in Europe also are impacting the automotive supply industry therefore affecting Schaeffler’s Powertrain & Chassis division business.

To give a perspective, the rejig will impact a total of 4,700 jobs, including around 2,800 in Germany and 1,900 at European locations outside of Germany. The company is also relocating production in Europe, which will lead to around 3,700 job losses.

What’s interesting for India, is that the decline in demand for clutches and export costs will see it moving the production for tractor single and dual clutches in Sheffield in the future will be shifted to its Hosur plant in India. This is on the back of increasing demand for these products in the country.

Schaeffler will not only reduce production and transportation cost, but also increase capacity to meet the growing demand in the country.