Business Standard

A COMMERCIAL FEATURE

What's this ?

Commercial Feature is a Business Standard Digital Marketing Initiative.

The Editorial/Content team at Business Standard has not contributed to writing or editing these articles.

For further information, please write to assist@bsmail.in

Japan's Topy Industries buys 26% stake in Wheels India's arm WIL Car Wheels

Both the companies aim to strengthen their positions in India's passenger car steel wheels market

BS B2B Bureau  |  Chennai 

Car wheels

Japanese firm Tody Industries Ltd has agreed to acquire 26 percent stake in WIL Car Ltd (WCWL), a wholly-owned subsidiary of India Ltd (WIL) – a company promoted by the Group. The investment in WIL’s steel business will be made through new issue of equity shares by WCWL to Topy. Through this strategic partnership, both the companies aim to strengthen their positions in India’s steel market.

"The strategic partnership will combine the leadership position already established by India in the steel wheel segment in India, with the technology skills and global relationships of Topy. With this strategic partnership, we are well positioned to build on the already strong platform that has been established by WIL. We believe that this partnership will put the business on a focused growth path and strengthen the existing relationship with Topy as a technology partner," said Srivats Ram, managing director, India Ltd.

WCWL was set up by WIL to carry on the steel wheel business in India. WIL has entered into agreements to transfer its entire steel wheel business carried out its plants in Padi (Chennai) and Bawal (Haryana), on a slump sale basis, to the new company. The steel business reported a turnover of Rs 224.30 crores in FY2017. It caters to major automitive players in India such as Maruti Suzuki, Hyundai and Ford.

With this transfer, WCWL will have a leadership position in the steel segment, catering to all major automobile manufacturers in India as well as to the export segment.

Topy believes that this strategic partnership will help expand its global footprint, and not only provide a delivery platform for its OE customers across the globe, but also enable it to participate in the growing wheel segment in India. Topy Industries, a leading manufacturer of steel for cars, trucks, construction & mining equipment, etc, has facilities to manufacture steel for passenger cars in Japan, US, China and MExico.

India Ltd is one of the leading manufacturers of steel for cars, trucks, tractors and construction & mining equipment; forged aluminium for trucks, air suspension systems for buses & trucks, and components for energy equipment. The company reported a turnover of Rs 2,176.06 crores in FY 2017 and profits after tax of Rs 59.31 crores. The company has manufacturing plants at Padi, Pune, Rampur, Bawal, Sriperambudur and Pantnagar, with a combined overall annual capacity of 16 million and a diversified customer base with over 30 customers globally.

RECOMMENDED FOR YOU

Japan's Topy Industries buys 26% stake in Wheels India's arm WIL Car Wheels

Both the companies aim to strengthen their positions in India's passenger car steel wheels market

Both the companies aim to strengthen their positions in India's passenger car steel wheels market
Japanese firm Tody Industries Ltd has agreed to acquire 26 percent stake in WIL Car Ltd (WCWL), a wholly-owned subsidiary of India Ltd (WIL) – a company promoted by the Group. The investment in WIL’s steel business will be made through new issue of equity shares by WCWL to Topy. Through this strategic partnership, both the companies aim to strengthen their positions in India’s steel market.

"The strategic partnership will combine the leadership position already established by India in the steel wheel segment in India, with the technology skills and global relationships of Topy. With this strategic partnership, we are well positioned to build on the already strong platform that has been established by WIL. We believe that this partnership will put the business on a focused growth path and strengthen the existing relationship with Topy as a technology partner," said Srivats Ram, managing director, India Ltd.

WCWL was set up by WIL to carry on the steel wheel business in India. WIL has entered into agreements to transfer its entire steel wheel business carried out its plants in Padi (Chennai) and Bawal (Haryana), on a slump sale basis, to the new company. The steel business reported a turnover of Rs 224.30 crores in FY2017. It caters to major automitive players in India such as Maruti Suzuki, Hyundai and Ford.

With this transfer, WCWL will have a leadership position in the steel segment, catering to all major automobile manufacturers in India as well as to the export segment.

Topy believes that this strategic partnership will help expand its global footprint, and not only provide a delivery platform for its OE customers across the globe, but also enable it to participate in the growing wheel segment in India. Topy Industries, a leading manufacturer of steel for cars, trucks, construction & mining equipment, etc, has facilities to manufacture steel for passenger cars in Japan, US, China and MExico.

India Ltd is one of the leading manufacturers of steel for cars, trucks, tractors and construction & mining equipment; forged aluminium for trucks, air suspension systems for buses & trucks, and components for energy equipment. The company reported a turnover of Rs 2,176.06 crores in FY 2017 and profits after tax of Rs 59.31 crores. The company has manufacturing plants at Padi, Pune, Rampur, Bawal, Sriperambudur and Pantnagar, with a combined overall annual capacity of 16 million and a diversified customer base with over 30 customers globally.

image
Business Standard
177 22

Japan's Topy Industries buys 26% stake in Wheels India's arm WIL Car Wheels

Both the companies aim to strengthen their positions in India's passenger car steel wheels market

Japanese firm Tody Industries Ltd has agreed to acquire 26 percent stake in WIL Car Ltd (WCWL), a wholly-owned subsidiary of India Ltd (WIL) – a company promoted by the Group. The investment in WIL’s steel business will be made through new issue of equity shares by WCWL to Topy. Through this strategic partnership, both the companies aim to strengthen their positions in India’s steel market.

"The strategic partnership will combine the leadership position already established by India in the steel wheel segment in India, with the technology skills and global relationships of Topy. With this strategic partnership, we are well positioned to build on the already strong platform that has been established by WIL. We believe that this partnership will put the business on a focused growth path and strengthen the existing relationship with Topy as a technology partner," said Srivats Ram, managing director, India Ltd.

WCWL was set up by WIL to carry on the steel wheel business in India. WIL has entered into agreements to transfer its entire steel wheel business carried out its plants in Padi (Chennai) and Bawal (Haryana), on a slump sale basis, to the new company. The steel business reported a turnover of Rs 224.30 crores in FY2017. It caters to major automitive players in India such as Maruti Suzuki, Hyundai and Ford.

With this transfer, WCWL will have a leadership position in the steel segment, catering to all major automobile manufacturers in India as well as to the export segment.

Topy believes that this strategic partnership will help expand its global footprint, and not only provide a delivery platform for its OE customers across the globe, but also enable it to participate in the growing wheel segment in India. Topy Industries, a leading manufacturer of steel for cars, trucks, construction & mining equipment, etc, has facilities to manufacture steel for passenger cars in Japan, US, China and MExico.

India Ltd is one of the leading manufacturers of steel for cars, trucks, tractors and construction & mining equipment; forged aluminium for trucks, air suspension systems for buses & trucks, and components for energy equipment. The company reported a turnover of Rs 2,176.06 crores in FY 2017 and profits after tax of Rs 59.31 crores. The company has manufacturing plants at Padi, Pune, Rampur, Bawal, Sriperambudur and Pantnagar, with a combined overall annual capacity of 16 million and a diversified customer base with over 30 customers globally.

image
Business Standard
177 22