JULY 22: Streparava Holding SpA of Italy has announced that it has taken over 100 percent of the equity of Sansera and Streparava Engineering Private Limited. Streparava earlier held 49 percent equity in the company and the remaining 51 percent was held by Sansera Engineering Private Limited.
The Italian company makes rocker arms, chassis components, bearing cups, valve bridges and other powertrain components for the commercial vehicle industry. Founded in 1951, it has been operating in Italy for over 60 years. Apart from Italy, Streparava has presence in Brazil, Spain and China.
The company located in Bangalore will now be Streparava’s wholly-owned Indian venture. Sansera Engineering’s commercial production started in 1987 and it supplies products to more than 20 customers in India and globally. Its reported consolidated revenue was about Rs 550 crores for the year ended March 31.
A spokesperson of Streparava said that “Streparava is committed to strengthen its presence in India beyond the current range of products being produced in the Bangalore facility to other areas such as driveline and chassis components, in which Streparava is a market leader”
Tecnova India, a Delhi-based consulting company specialising in India Entry Consulting were advisors to the deal.