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Pricol and Minda litigation
Pricol Ltd. (Pricol) has filed Writ Petitions in WP No.16079 and 16081 of 2023 before the Honorable High Court (HC) of Madras in connection with Minda Corporation Ltd. (Minda) also filing an application to the Competition Commission of India (CCI). The HC has also issued a notice to the opposite parties. The petition is filed against investing in equity shares of up to 24.5 per cent of the total equity shares of Pricol. This is part of a conflict between the two companies that are traced to February 2023, when Minda paid Rs.400 crore in an open market deal to purchase 15.7 per cent of Pricol. The Madras High Court has passed an interim order restraining CCI from taking the file or adjudicating the Minda Corporation application for acquiring the mentioned stake in Pricol.
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of Rs.170 crore and operational by 2024.
Gabriel India and Inalfa Roof Systems collaborate
Gabriel India Ltd. has joined hands with Netherlands-based Inalfa Roof Systems to manufacture sunroofs in India. Looking beyond its core forte of suspensions, Gabriel India together with Inalfa plans to set up a new manufacturing facility in Chennai, Tamil Nadu. The new facility, Inalfa Gabriel Sunroof Systems (IGSS) will involve an investment of around Rs.170 crore and will become operational in the first quarter of 2024. The facility will have the capacity to produce 200,000 sunroofs per annum. The IGSS will employ around 250 employees at its facility. The new venture will commence order fulfilment with supplies to Hyundai, Kia after which the sunroofs will be supplied to other OEMs.
Continental Tire partners Indag Rubber
Continental Tires has collaborated with Indag Rubber Ltd. to promote tyre retreading. The former has signed an MoU with the latter to help extend the tyre’s life. During the pilot run, the warranty program and retreading services will be provided to TBR Normal Load (NL) fleets through retreads from the three markets - Delhi NCR, Rajasthan, and Maharashtra. As a part of this partnership, Continental Tires will provide a second-life warranty on NL casings following Conti Bharosa. Indag, on the other hand, will provide a warranty on the retreading procedure and the tread rubber on the NL fleets. Once the pilot projects are completed, the programme will be extended to pan India.
