NEWS Talbros Automotive Components Limited (TACL), India’s largest gasket manufacturer, and Magneti Marelli have signed a pact to set up a 50:50 joint venture to manufacture suspension systems and modules. The JV is expected to be operational by April 2012, and TACL will transfer its existing stamping business to this JV, after obtaining shareholder approval. The project 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 OEMs. Additional manufacturing facilities across India would be evaluated in the near future. Magnetic Marelli will support the JV with its design and technology know-how for a full spectrum of suspension components and modules, allowing to the JV to offer in the Indian market the most advanced light-weight solutions in line with carmakers’ requirements for CO2 reduction. Commenting on the pact, Umesh Talwar, vice-chairman and managing director of TACL, said: “The joint venture with Magneti Marelli will create a specialised 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.”

Eugenio Razelli, CEO of MagnetiMarelli said: “The JV agreement with Talbros allows us to further extend our presence and footprint in India, adding a business area -- suspension systems -- in which we have consolidated know-how and long-time industrial experience.”