The China facility is running profitably and manufactured fasteners, bearing housings and castings, and the company had invested adequately for the current level of operations there, Krishna said
The open offer was triggered after the German company acquired US-based Wabco Holdings, and the offer price is Rs 7,067.51 per offer share, totalling Rs 3351.34 crore.
Components makers are reinventing their business to transform and survive in a post-Covid world
Piramal, Tata Power, and TVS group units figure in list
The company hopes its overseas push will help compensate for the slowing sales domestically
Five-day shutdown at Chennai units starting Oct 29, Hosur to go silent for three days
An acquisition strategy is helping the company add new capabilities
Company plans to invest around $50 mn in US, around Rs 400 cr in India