Mumbai: TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italian automotive components supplier Roberto Nuti Group, which will help it expand product range and strengthen its position in the global market.
The pact between the two partners includes the purchase of 100 percent of the Roberto Nuti Group by TVS Mobility indirectly, through its 100% Indian subsidiary, SI Air Springs Private Limited, and adequate investments for the full relaunch of the company, the TVS Mobility group. he said in a statement.
He also said that both companies will continue to operate normally during the integration period.
TVS Mobility has a well-established presence in Europe with some of the other companies that are part of the group such as TVS Supply Chain Solutions and TVS Srichakra Ltd.
Following this collaboration, the Bologna, Italy-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility.
"This acquisition marks a significant step in our global expansion strategy, allowing us to combine our distinctive skills in the air spring business with Nuti Group's suspension systems expertise," said P Srinivasavaradhan, director of SI Air Springs.
SI Air Springs, operating from Madurai in Tamil Nadu, offers air spring solutions to leading commercial vehicles, bus OEMs, trailer manufacturers, Tier 1 suspension system suppliers and Indian Railways.
On the other hand, the Roberto Nuti Group produces and distributes shock absorbers and air suspensions for the aftermarket mainly for industrial and commercial vehicles.
"We are excited about the international growth potential this agreement brings us and are confident that partnering with SI Air Springs will allow us to leverage their capabilities.
“Both companies will continue to operate normally during the integration period and we are committed to ensuring a smooth transition for all our stakeholders,” said Luca Randighieri, CEO of Nuti Group.
The pact between the two partners includes the purchase of 100 percent of the Roberto Nuti Group by TVS Mobility indirectly, through its 100% Indian subsidiary, SI Air Springs Private Limited, and adequate investments for the full relaunch of the company, the TVS Mobility group. he said in a statement.
He also said that both companies will continue to operate normally during the integration period.
TVS Mobility has a well-established presence in Europe with some of the other companies that are part of the group such as TVS Supply Chain Solutions and TVS Srichakra Ltd.
Following this collaboration, the Bologna, Italy-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility.
"This acquisition marks a significant step in our global expansion strategy, allowing us to combine our distinctive skills in the air spring business with Nuti Group's suspension systems expertise," said P Srinivasavaradhan, director of SI Air Springs.
SI Air Springs, operating from Madurai in Tamil Nadu, offers air spring solutions to leading commercial vehicles, bus OEMs, trailer manufacturers, Tier 1 suspension system suppliers and Indian Railways.
On the other hand, the Roberto Nuti Group produces and distributes shock absorbers and air suspensions for the aftermarket mainly for industrial and commercial vehicles.
"We are excited about the international growth potential this agreement brings us and are confident that partnering with SI Air Springs will allow us to leverage their capabilities.
“Both companies will continue to operate normally during the integration period and we are committed to ensuring a smooth transition for all our stakeholders,” said Luca Randighieri, CEO of Nuti Group.
