ZF Rane Automotive India Private Ltd, a joint venture between the global ZF Group and India's Rane Group, has announced its acquisition of TRW Sun Steering Wheels Private Limited (TSSW). This strategic move not only bolsters ZF Rane's position in the market but also underscores its commitment to becoming a holistic provider of occupant safety products in India.
With this acquisition, ZF Rane Automotive India, known for manufacturing hydraulic steering systems, seat belts, and airbags, will now include steering wheels in its product lineup, marking a significant step in its strategy to offer integrated safety solutions. TSSW, a joint venture between the Sun Group and ZF Group globally, has established itself as a key player in the steering wheel segment since 1994, serving a diverse range of passenger vehicle manufacturers from its facilities in Gurugram and Pune.
The acquisition is seen as a complementary extension of ZF Rane's existing capabilities, promising to deliver enhanced value to both current and prospective customers. Harish Lakshman, Vice Chairman of the Rane Group and Managing Director of ZF Rane Automotive India, expressed confidence in the acquisition's potential to streamline operations and provide superior value to customers. He highlighted the strategic importance of TSSW's geographic footprint and its alignment with ZF Rane's growth objectives in India.
Echoing this sentiment, Akash Passey, President of ZF Group India, emphasised the acquisition's role in consolidating ZF Rane's market leadership. By marrying ZF's technological expertise with Rane's manufacturing excellence and TSSW's regional strengths, the partnership is poised to deliver a robust portfolio of safety solutions tailored to the needs of Indian customers.
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