TVS Mobility arm acquires automotive components supplier Roberto Nuti
TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100 per cent purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement. It 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 businesses 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, it said. "T01-07-2024