TVS Group enters composite space with minority stake in Italian firm


Chennai, Aug 17 (IANS): Sundaram Finance Holdings Ltd (SFHL), part of the $7 billion TVS Group, on Monday said it has taken a minority stake in Italian company MIND S.r.l, an automotive component maker in composite materials.

According to SFHL, the strategic investment in MIND would enable the company to facilitate the sharing of manufacturing excellence, systems and automation, together with MIND's composite manufacturing expertise, and support its expansion in the rapidly growing composite materials space.

"The partnership with MIND is the first step for our group to enter the composite domain where weight reduction is becoming more and more important in the whole automotive and industrial domains," Director Srivats Ram said.

The transaction would be completed, subject to regulatory approvals.

Globally, as auto-makers look for solutions to lightweight their vehicles, they are increasingly turning to high-strength materials such as composites.

Composites are used extensively in motorsport and luxury vehicles, and there is an increasing trend to leverage these materials in mass production and electric vehicles due to the benefits in energy efficiency.

 

  

Top Stories


Leave a Comment

Title: TVS Group enters composite space with minority stake in Italian firm



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.