TVS Mobility Expands In Europe With Acquisition Of Roberto Nuti Group
Both companies will continue to operate normally during the integration period, TVS Mobility said.
TVS Mobility Group announced that its subsidiary, SI Air Springs Pvt., has acquired Italian automotive components supplier, Roberto Nuti Group. This acquisition is in line with the company's aim to expand TVS Mobility Group's product range and enhance its global market presence, it said on Monday.
The agreement between the two partners entails TVS Mobility's complete acquisition of Roberto Nuti Group through SI Air Springs, along with investments necessary for the company's comprehensive relaunch.
Both companies will continue to operate normally during the integration period, it said.
TVS Mobility has a well-established presence in Europe, with some of the other businesses that are part of the group, such as TVS Supply Chain Solutions and TVS Srichakra Ltd.
Following this collaboration, the Bologna-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility, it said.
"This acquisition marks a significant step in our global expansion strategy, allowing us to combine our distinctive skills in air spring business with the Nuti Group's suspension systems expertise," said P Srinivasavaradhan, director of SI Air Springs.
SI Air Springs, which operates from Madurai in Tamil Nadu, provides air spring solutions to major commercial vehicles, bus original equipment manufacturers, trailer manufacturers, tier-1 suspension system suppliers and Indian Railways.
Roberto Nuti Group produces and distributes shock absorbers and air springs for the aftermarket, mainly for industrial and commercial vehicles.
"We are excited about the international growth potential this agreement brings us and we are confident that partnering with SI Air Springs will allow us to take advantage of their capabilities."
Both companies will continue to operate normally during the integration period. The Nuti group is committed to ensuring a smooth transition for all our stakeholders, said General Manager Luca Randighieri.
(With inputs from PTI)
