WABCO Holdings, a global technology leader and Tier I supplier to the commercial vehicle industry, has raised its ownership position to 75 percent from 39.2 percent in its joint venture — WABCO-TVS (India). This strengthens WABCO’s presence in India and its capabilities to connect with and grow in emerging markets.
WABCO has also transferred to the TVS Group its holding in Sundaram-Clayton, which contains the non-brakes business of its Indian joint venture.
According to Jacques Esculier, WABCO chairman and chief executive officer, “Taking majority control of this world-class, award-winning company marks another major step in expanding WABCO’s global network of manufacturing, sourcing and engineering capabilities, while enhancing WABCO’s already broad and successful footprint in Asia. We are thankful to the TVS Group for its key role in establishing our long-term partnership as one of the world’s foremost contributors to the commercial vehicle industry here in India.”
WABCO-TVS (India) designs, manufactures and markets conventional braking products, advanced braking systems, and other related air compression products and systems. It has three factories of which two are located in Chennai and the third is in Jamshedpur.