Newscast
MSSL acquires CIM Tools Motherson Sumi Systems Ltd. (MSSL) has successfully completed the acquisition of a majority stake in CIM Tools Pvt. Ltd. (CIM). As per an earlier announcement, MSSL has acquired a 56 per cent stake in CIM Tools. The latter in turn holds a 83 per cent in Aero Treatment Pvt. Ltd. (ATPL) and 49.99 per cent in Lauak CIM Aerospace (JV with Lauak International, LCA). CIM, ATPL and LCA are hereafter referred to as CIM Group”. The three founders, Srikanth GS, Umesh AS and
Vishwanath Deshpande, retain the remaining 45 per cent stake in CIM. Since the initial announcement in October, 21, CIM’s order book is claimed to have grown by 26 per cent to USD 252 million. CIM Group’s
New investment by Continental Continental, as a part of new investment, has inaugurated a Rs.200 crore greenfield surface solutions plant in Pune. Designed for car interiors including electric vehicles and two-wheeler seats, the premium surface materials which the company plans to manufacture will largely cater to the domestic market and exports. The new surface solution plant will focus on reducing environmental impact and lowering the carbon footprint. Commenting on the new investment, Philip Nelles, Member of the Continental Executive Board and Head of Group Sector ContiTech said, “Growing our business in the Asia-Pacific region is one of our main strategic pillars. Amongst others, India will play a major role to strive for our goal. That’s why we continue to invest into our Indian locations. Thus, we will remain close to our customers maximising value creation.” The new location is Continental’s sixteenth surface solutions plant globally, producing well-known surface materials like ‘Acella Eco’ used by worldwide top car manufacturers and automotive brands.
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AUTO COMPONENTS INDIA // MAY 2022
provisional revenue in Q4 FY22 was Rs.548 million, implying a strong recovery to pre-Covid19 levels (Revenues of Rs.2,031 mn in FY20 and Rs.1,296 mn in FY21). CIM Tools is engaged in specialised machining and
sub-assembly of components for the aerospace industry. ATPL is a vertically integrated unit engaged in the surface treatment of machined parts. This acquisition marked MSSL’s entry into the aerospace industry and provides it with access to an existing and wellestablished customer base. The specialised capabilities to serve the aerospace industry through its four dedicated facilities is another step forward in the diversification strategy of MSSL.
Bosch India achieves a new milestone Bosch India has reached a significant milestone by producing 10-million Anti-lock Braking System (ABS) and Electronic Stability Program (ESP) units for passenger vehicles at its Chakan plant near Pune. “Bosch has had a remarkable run in India over the last 100 years, and the milestone of producing 10 million ABS and ESP units locally at our plant in Chakan serves as a testament to our commitment to building an Atmanirbhar Bharat,” Avinash Chintawar, Managing Director of Bosch Chassis Systems India Pvt. Ltd. said. ABS can reduce relevant car accidents by 20 per cent, according to studies conducted by Bosch’s accident research team in India, while ESP units can prevent up to 80 per cent of car skidding incidents. Bosch first introduced ABS in India in 2005 and ESP in 2009 followed by the inauguration of its Chakan plant in 2010, initiating the localisation of ABS and ESP systems. WWW.AUTOCOMPONENTSINDIA.COM
