Rane (Madras) Limited, a manufacturer of steering and suspension products and light metal casting components announced that the Board of Directors of the company has approved the acquisition of the Steering Components Business (SCB) of Yagachi Technologies Private Limited (YTPL), a part of Hical Group.
SCB manufactures steering and suspension components such as Inner Ball Joints (IBJ) and Outer Ball Joints (OBJ). The division’s major customers include Mando India, who in turn serve OEMs such as Hyundai, Kia, Mahindra, etc. SCB has a technical collaboration with a leading South Korean ball joint company. SCB’s revenue was Rs. 35.5 Crores for FY21.
“The acquisition of Steering Components Business of Yagachi will enhance RML’s leadership position and share in the domestic passenger vehicle market and provide opportunity to enter export vehicle platforms to new geographies.” said Harish Lakshman, Vice Chairman, Rane Group.
Established in 1960, Rane (Madras) Limited (RML) is part of the Rane Group of Companies, an auto component group based out of Chennai. RML has two divisions namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI).
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