TVS mobility arm acquires Italy-based automotive component supplier

TVS mobility arm acquires Italy-based automotive component supplier


file.

File. | Photo Credit: PV Sivakumar

TVS Mobility Group on July 1 said its subsidiary SI Air Springs has acquired Italy-based automotive component supplier Roberto Nuti Group, helping it expand its product range and strengthen its position in the global market.

The agreement between the two partners involves TVS Mobility indirectly acquiring 100% of the Roberto Nuti Group through its wholly-owned Indian subsidiary SI Air Springs Pvt Ltd and making appropriate investments to restart the company, TVS Mobility Group said in a statement.

It also said that both companies will continue to operate as normal during the integration period.

TVS Mobility has a good presence in Europe, along with some other group businesses such as TVS Supply Chain Solutions and TVS Srichakra Limited.

Following this collaboration, the Bologna (Italy)-based group will now operate at a more international level, and benefit from the market and product leadership of TVS Mobility.

P Srinivasavardhan, Director, SI Air Springs, said, “This acquisition is an important step in our global expansion strategy, allowing us to combine our niche skills in the air springs business with the suspension systems expertise of the Nuti Group.”

SI Air Springs, operating from Madurai, Tamil Nadu, supplies air spring solutions to leading commercial vehicles, bus OEMs (original equipment manufacturers), trailer manufacturers, Tier 1 suspension system suppliers and Indian Railways.

On the other hand, the Roberto Nuti Group mainly produces and distributes shock absorbers and air springs for industrial and commercial vehicles.

“We are excited by the international growth prospects this agreement provides and believe partnering with SI Air Springs will help us leverage their capabilities.

“Both companies will continue to operate as normal during the integration period, and we are committed to ensuring a smooth transition for all our stakeholders,” said Luca Randighieri, General Manager of Nuti Group.


join us for quick updates

Leave a Reply

Your email address will not be published. Required fields are marked *

Enable Notifications OK No thanks