WABCO Holdings Inc., a global technology leader and tier-one supplier to the commercial vehicle industry, has announced that it has executed its previously announced plan to raise its ownership to 75 per cent in its joint venture, WABCO-TVS (India) Ltd., further strengthening not only its presence in India but also its capabilities to connect with and grow in all of the world’s emerging markets.
Based on a court-approved plan, WABCO on June 3 increased its equity investment to 75 per cent from 39.2 per cent in WABCO-TVS (India) Ltd., shares of which are listed on the Mumbai, Madras and National Stock Exchanges. On the same day, it also transferred to the TVS Group its holding in Sundaram-Clayton Ltd., which contains the non-brakes business of its Indian joint venture.
With its outstanding engineering and manufacturing capabilities and local sourcing network, WABCO-TVS designs, manufactures and markets conventional braking products, advanced braking systems and other related air compression products and systems, directly serving customers locally and internationally through WABCO.
The regional leader in its market, WABCO-TVS (India) Ltd. has three world class factories. The factory located at Ambattur in Chennai recently received the prestigious Total Productive Maintenance (TPM) Excellence Award from the Japan Institute of Plant Maintenance, among other customer and industry awards. It has also been recognized as well on its way as a global benchmark for implementing lean manufacturing, according to the Lean Enterprise Institute.
Two other factories inaugurated in 2008 – the one in Mahindra World City in Chennai and the other in Jamshedpur – operate in the same TPM excellence league as the factory in Ambattur, performing at benchmark-setting levels of efficiency and quality.
WABCO-TVS also has advanced software design and development centers located in Chennai, with more than 70 engineers who develop embedded software for applications in electronic braking, stability, transmission and climate control. In addition, the company has a center of excellence in mechanical engineering located in Ambattur which has more than 70 engineers who design and develop products and systems for India and other markets worldwide where WABCO operates.
The company which employs over 1,000 persons reported approximately $95 million in sales in 2008-09. WABCO has participated successfully in this joint venture for more than 40 years.
“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 its already broad and successful footprint in Asia. We will also be able to further leverage WABCO-TVS’ unique engineering and product development platform which is capable of understanding the specific needs of emerging markets,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
“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, particularly in India”, he added.
Based on a court-approved plan, WABCO on June 3 increased its equity investment to 75 per cent from 39.2 per cent in WABCO-TVS (India) Ltd., shares of which are listed on the Mumbai, Madras and National Stock Exchanges. On the same day, it also transferred to the TVS Group its holding in Sundaram-Clayton Ltd., which contains the non-brakes business of its Indian joint venture.
With its outstanding engineering and manufacturing capabilities and local sourcing network, WABCO-TVS designs, manufactures and markets conventional braking products, advanced braking systems and other related air compression products and systems, directly serving customers locally and internationally through WABCO.
The regional leader in its market, WABCO-TVS (India) Ltd. has three world class factories. The factory located at Ambattur in Chennai recently received the prestigious Total Productive Maintenance (TPM) Excellence Award from the Japan Institute of Plant Maintenance, among other customer and industry awards. It has also been recognized as well on its way as a global benchmark for implementing lean manufacturing, according to the Lean Enterprise Institute.
Two other factories inaugurated in 2008 – the one in Mahindra World City in Chennai and the other in Jamshedpur – operate in the same TPM excellence league as the factory in Ambattur, performing at benchmark-setting levels of efficiency and quality.WABCO-TVS also has advanced software design and development centers located in Chennai, with more than 70 engineers who develop embedded software for applications in electronic braking, stability, transmission and climate control. In addition, the company has a center of excellence in mechanical engineering located in Ambattur which has more than 70 engineers who design and develop products and systems for India and other markets worldwide where WABCO operates.
The company which employs over 1,000 persons reported approximately $95 million in sales in 2008-09. WABCO has participated successfully in this joint venture for more than 40 years.
“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 its already broad and successful footprint in Asia. We will also be able to further leverage WABCO-TVS’ unique engineering and product development platform which is capable of understanding the specific needs of emerging markets,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
“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, particularly in India”, he added.
For over 140 years, WABCO Vehicle Control Systems has pioneered breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world’s leading commercial truck, trailer and bus manufacturers. With sales of $2.6 billion in 2008, it is headquartered in Brussels.
