Portugal-headquartered Sodecia Group has inked a strategic long-term partnership with German automotive supplier Huf Group. Sodecia is set to acquire a minority stake in Huf Group along with commitment to increase its shareholding by 2028.

Furthermore, Sodecia will provide significant funds and enable Huf to execute its future growth strategy, along with Rui Monteiro, CEO and owner of Sodecia, will also become the new CEO of Huf next year.

It was last year that Huf had begun the search for a strategic partner to attain its growth targets in line with its new corporate strategy ‘Grow beyond’. Sodecia is set to acquire 30 percent initially of Huf's shares and in return will provide significant shareholder funds to execute future growth strategy.

The partners have further agreed that by 2028 Sodecia will acquire majority of Huf’s shares. All the while, Huf will continue to operate as a separate entity, headquartered in Velbert, Germany and with representatives of the Huf founding families Hulsbeck and Furst as part of Huf’s advisory board. Dirk Fischer will support Monteiro as the COO and Rainer Heupel as CFO.

Ulrich Hulsbeck, Chairman of the Huf Advisory Board, said, “Sodecia is the ideal partner for Huf. The family-owned company from Portugal has extensive expertise and resources that will enable Huf to not only strengthen its operational excellence, but also to invest in even more innovative car access and authorisation solutions.”

Florian Graf, Deputy Chairman of the Huf Advisory Board and a descendant of the second Huf shareholder and founder family (Furst), added, “We have built a very solid foundation of trust with those in charge at Sodecia and in particular with Rui Monteiro over the past months. We are pleased that Monteiro will take over the role of CEO at Huf next year. Tom Graf will leave Huf on 31 December 2024. We would like to thank Graf for his successful work over the last six years restructuring Huf and wish him all the best for the future.”

Rui Monteiro, CEO and Owner, Sodecia, stated, “Huf has enormous potential and I am looking forward to working with its employees. Huf has full order books, a future-proof product portfolio and dedicated teams worldwide. With Huf, we are gaining an established, global partner for the Sodecia Group with high reputation at automotive manufacturers and also known for top quality. The entire Sodecia Group and thus our customers, but also other partners worldwide will benefit from it.”

Huf Group has established its presence in 17 locations in Europe, America and Asia. It is a leading supplier of mechanical, electronic and software solutions for the global automotive industry.

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  - Davide Felice Fontana April 04, 2025 18:38 PM

  Un 👍 al nuovo" CEO - Rui Monteiro " per l'acquisizione di " Huf " operaio : " Sodecia Automotiv Turin - Chivasso 🇮🇹 "

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Bengaluru-headquartered engineering R&D company L&T Technology Services has been inducted in John Deere's Supplier Hall of Fame for achieving Partner-level Supplier Status for five consecutive years in the John Deere Achieving Excellence (AE) Program.

The company has consistently met John Deere’s benchmarks for quality, delivery and innovation, earning the Partner-level status for FY2020 through FY2024. In FY2021, the company was also named Supplier of the Year. The recognition highlights LTTS’ ongoing contribution across engineering and digital services for John Deere operations in North America and India. These services include digital solutions, product simulation, embedded software, mechanical design, cost management, advanced analysis and customer support.

Alind Saxena, Executive Director & President, Mobility & Tech, L&T Technology Services, said, “The induction into the John Deere Supplier Hall of Fame is a testament to our pursuit of excellence and innovation in the Mobility segment. Achieving Partner-level Supplier Status for five consecutive years reflects the depth of our engineering expertise and the trust John Deere places in LTTS. We remain dedicated to delivering cutting-edge solutions that not only meet but consistently exceed the expectations of our partners worldwide.”

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The Association of Indian Forging Industry (AIFI) has entered a strategic partnership with the Bureau of Energy Efficiency (BEE) under the Ministry of Power through a landmark MoU. Signed in the presence of Union Minister Manohar Lal, this collaboration aims to accelerate sustainable manufacturing practices in the forging industry under the Assistance for Deployment of Energy Efficient Technologies in Industrial Establishments (ADEETIE) scheme.

The ADEETIE initiative supports MSMEs in 14 energy-intensive sectors by facilitating access to cutting-edge energy-efficient technologies. With an INR 10 billion budgetary allocation, the scheme will catalyse over INR 90 billion in investments, including INR 67.50 billion in MSME financing. Eligible forging units can avail interest subventions of five percent (micro/small enterprises) and three percent (medium enterprises), along with technical assistance in energy audits and project implementation.

As a backbone of India’s automotive, defence and capital goods sectors, the forging industry faces significant energy challenges. This MoU positions AIFI as a bridge between MSMEs and government resources, enabling adoption of eco-friendly technologies. The alliance reinforces India’s commitment to sustainable industrial growth, helping manufacturers lower operational costs while aligning with national decarbonisation goals.

Yash Munot, President, AIFI, said, “This collaboration with the Bureau of Energy Efficiency marks a significant step forward for the Indian forging industry. As one of the most energy-intensive sectors, forging stands to benefit immensely from the structured support offered under the ADEETIE scheme. By enabling access to financial incentives and technical guidance, this initiative will empower MSMEs to adopt cutting-edge, energy-efficient technologies. It aligns perfectly with our vision of building a globally competitive, environmentally responsible and innovation-driven forging ecosystem. AIFI is committed to mobilising our members across clusters to take full advantage of this opportunity and contribute meaningfully to India’s broader sustainability and industrial growth goals."

Deven Doshi, Chairman – Government Interface, AIFI, said, “Energy efficiency is very essential for forging companies, but the MSME sector often faces structural barriers in adopting cleaner and more efficient technologies. The ADEETIE scheme provides a structured framework of support, including technical, operational and financial aspects, that directly addresses these challenges. AIFI is proud to be a partner in this transformative journey. This collaboration not only ensures sectoral compliance with energy norms but also paves the way for long-term industrial modernisation.”

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Sona BLW Precision Forgings (Sona Comstar), a leading automotive component manufacturer, has signed a binding term sheet with China's Jinnaite Machinery (JNT) to form a new joint venture. The partnership aims to manufacture and supply driveline systems and components for automotive original equipment manufacturers (OEMs) both within China and globally.

Under the agreement, Sona Comstar will invest USD 12 million, taking a 60 percent stake in the joint venture, while JNT will contribute USD 8 million in assets and business, holding the remaining 40 percent share. Operations are set to begin in the second half of the current financial year, marking a significant move in Sona Comstar’s strategy to expand its footprint in the burgeoning Chinese electric vehicle (EV) market.

The collaboration combines Sona Comstar’s expertise in driveline technology, including system design and precision forging, with JNT’s advanced casting and moulding capabilities. JNT boasts 63 patents and 36 proprietary technologies and plays a key role in shaping national standards for castings in China. Its established relationships with leading Chinese and global automotive OEMs are expected to bolster the joint venture’s prospects.

China continues to assert itself as the world’s largest automotive market, with EV sales reaching 11 million in 2024, representing two-thirds of global volume. Chinese OEMs accounted for 76 percent of global EV sales in the previous year, and their international market share has grown substantially, with exports rising from 1 million units in 2020 to over 6 million in 2024. Robust government policy, advancements in battery and software technology, and rapid expansion of supporting infrastructure have been primary drivers of this growth.

Sona Comstar, already the leading supplier of differential assemblies for battery electric vehicles (BEVs) in North America and among the top in Europe, intends for the joint venture to help further its reach across key markets in Asia, including India, Japan and South Korea, as well as to strengthen its presence in North America and Europe.

Vivek Vikram Singh, Managing Director & Group CEO, Sona Comstar, said, "I am excited to partner with JNT to establish a driveline manufacturing plant in China. This joint venture marks a significant step in our strategy to expand into the rapidly growing Asian markets. As the largest electric vehicle market in the world and a leader in EV technologies, China offers tremendous opportunities for innovation and growth. By leveraging the strengths of both partners, this venture is well-positioned for strong growth and it has the potential to become a key supplier of driveline solutions for electric vehicles in the region. With a robust order book already in place, we expect operations to commence later this year."

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Pune-headquartered tier 1 supplier Varroc has appointed Padmanabh Sinha as an Independent Director on its Board of Directors, effective 18 July.

He brings over two decades of experience in the Indian investment ecosystem across private equity and technology entrepreneurship space. Sinha has held various positions in domestic and global investment institutions such as National Investment and Infrastructure Fund (NIIF), Temasek and Tata Opportunities Fund, among others, with deep expertise in capital allocation, investment stewardship and value creation across cycles.

Sinha holds a bachelor’s degree in computer science (Hons) from BITS Pilani, an MBA from IIM Calcutta, and has completed the Executive Development Program in Private Equity at Harvard Business School.

Tarang Jain, Chairman & Managing Director, Varroc, said, “We are delighted to welcome Padmanabh Sinha back to our Board. His broad-based experience and strategic perspective will be a valuable addition to Varroc as we accelerate our transformation and growth journey.”

Padmanabh Sinha said, “It is an honour to join the Board of Varroc. I look forward to contributing to Varroc’s journey of innovation, sustainable growth, and global competitiveness.”

At present, Sinha serves as the Managing Partner and Co-founder of LaunchBay Capital, a recently established growth-stage private equity platform focused on mid-market, India-headquartered businesses across the Consumer, Healthcare, Industrials, Financial Services and Technology sectors.

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