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Our Bureau

Bangalore , July 16

THE Bosch Group has increased its holdings in Kalyani Brakes Ltd to 80 per cent after purchasing an additional 40 per cent holding in the company.

According to an agreement, the transaction is based on transfer of shares between promoters subject to Indian regulations. The company did not disclose the price at which the equity was purchased.

Kalyani Brakes operates as a joint venture between Bosch and Kalyani Group, each with 40 per cent holding.

The rest of the shares are widely held. The company will now be renamed Bosch Chassis Systems India Ltd.

Bosch also plans to extend its worldwide manufacturing base for modern braking systems to India, including manufacture of the antilock braking system (ABS).

Kalyani Brakes manufactures conventional braking systems and components for passenger cars, tractors, three-wheelers and two-wheelers at its plants in Jalgaon, Chakan, and Manesar.

It employs about 1,800 associates and generated sales of Rs 357 crore in fiscal year 2004-05.

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