Rane Holdings Limited (RHL) has announced that its Board of Directors has approved the acquisition of a 51% stake from joint venture partner NSK Limited in Rane NSK Steering Systems Private Limited. Following the acquisition, the company will become a wholly-owned subsidiary of RHL and will be renamed Rane Steering Systems Private Limited (RSSL), subject to necessary approvals.
RSSL will maintain its existing technology license and supply agreements with NSK Steering & Control, Inc., ensuring a seamless transition and continued technological support.
Harish Lakshman, Chairman of Rane Group, said, 'We deeply value our relationship with NSK over the past two and a half decades, which has helped us establish a strong position in the Indian automotive steering market. This acquisition further expands our group’s expertise in steering systems.'
Incepted in 1997 as a 49:51 joint venture with NSK, Japan, Rane NSK Steering Systems has been manufacturing manual and electric power steering columns for the major commercial and passenger vehicles OEMs and intermediate shafts for the off-highway terrain vehicles. With four plants in – making manual steering columns in Chennai and Rudrapur, and electronic power steering in Bhawal and Gujarat, the company has garnered expertise over a period of time, enabling it to establish centralised R&D and product engineering function. Besides, it has instituted design and functional aspects of development match customer requirements. Its team includes FEA Specialist, CAD and CAM application experts & software analysts, CAD/CAE, Finite Element Analysis, to align the new product development process to IATF 16949 : 2016 norms.
The products manufactured by the company include Energy Absorbing & Collapsible Columns, Intermediate Shafts, Electric Power Steering Columns, Tilt & Telescopic Steering Columns, Solid Steering Columns and Universal Joint Assemblies.
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