WABCO–TVS (INDIA) Limited has announced its name change from WABCO-TVS (INDIA) Limited to WABCO INDIA LIMITED. It is part of an agreement with Sundaram-Clayton Limited, after the acquisition of the equity shares by Clayton Dewandre Holdings Ltd from the TVS group, who have shareholders’ approval as well as that of the the Registrar of Companies (ROC) in India.
Wabco Holdings Inc., a tier-one supplier to the commercial vehicle industry, acquired majority ownership in WABCO–TVS (INDIA) in 2009. After the acquisition, WABCO was allowed until June 2012 to use the TVS trademark in sales, marketing and distribution of products. WABCO will now run its India operations under the WABCO brand name.
“We are proud of our TVS heritage as it has helped us to build strong relationships with customers across India for over 40 years,” said P. Kaniappan, Whole–time Director, WABCO INDIA. “Wabco India has received several awards for quality and innovation,” said Jacques Esculier, WABCO Chairman and CEO. The company designs, manufactures and markets conventional braking products, advanced braking systems and other related air-assisted technologies, systems and products for the CV sector. It has three factories at Ambattur, Chennai; Mahindra World City, Chennai; and Jamshedpur. It reported a sales turnover of Rs 899 crore in 2010-11.