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By EquityPandit

BUSINESS

TAFE Acquires Interior Systems Unit of French Automotive Supplier

Picture Source: Internet

On Friday, Tractor and farm equipment maker TAFE Ltd said it had acquired FAURECIA, the interiors business group of French global automotive supplier FORVIA, for an undisclosed amount.

The deal covers Faurecia’s operations in Maharashtra, Andhra Pradesh and Tamil Nadu. TAFE said transactions related to operations in Chakan in Maharashtra and Anantapur in Andhra Pradesh had been completed, while the transaction in Tamil Nadu is expected to be completed soon.

Integrating TAFE’s plastics business with the French company’s internal business systems offers synergies to customers. Under the agreement, FAURECIA will support TAFE and its clients with design capabilities, a statement issued in Chennai said.

The statement said that with its complementary capabilities, TAFE would offer its customers an enhanced value proposition, including product design, precision tooling, design manufacturing, and the exceptional quality for which the company has been recognised.

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