Gabriel India acquires assets worth Rs 60 cr from Marelli Motherson

Auto components maker Gabriel India on Saturday announced acquisition of assets from Marelli Motherson Auto Suspension Parts Pvt Ltd for Rs 60 crore.

With this acquisition, Gabriel India has acquired additional annual manufacturing capacity of 3.2-million shock absorbers and 1-million gas spring units, the company said in a statement.

The total purchase consideration payable under the Asset Purchase Agreement (APA) is Rs 60 crore, subject to closing adjustments, Gabriel India said in a regulatory filing.

Pune-based Marelli Motherson Auto Suspension Parts Pvt Ltd (MMAS) is a 50:50 joint venture between Marelli Europe S.p.A. (formerly known as Magneti Marelli S.p.A.) and Samvardhana Motherson International Ltd.

It specialises in the design, production and marketing of passive shock absorbers, including semi-corner modules and gas springs, for cars and commercial vehicles.

Gabriel India further said it will enter into a licence agreement and a technical assistance agreement with Marelli Suspension Systems Italy S.p.A., strengthening its advanced suspension offerings to OEM.

Commenting on the acquisition, ANAND Group and Gabriel India Ltd Executive Chairperson, Anjali Singh said,"This acquisition marks another milestone for Gabriel India, as it not only enhances our technological capabilities but also broadens our product portfolio and customer base."  She further said,"By integrating MMAS advanced suspension technologies through this acquisition, we are poised to strengthen our market position and deliver greater value to our shareholders."  Gabriel India said acquisition is aimed at bolstering its market position in the suspension business.