Financial Daily from THE HINDU group of publications
Thursday, Aug 18, 2005

Port Info

Group Sites

Corporate - Announcements

TVS Motor to hand over acquired co to new management

Our Bureau

Chennai , Aug. 17

TVS Motor Company's subsidiary, Sundaram Auto Components Ltd, acquired the frames division of Bharat Technologies Auto Components Ltd last year, for a consideration of Rs 33 crore.

The company's Chairman and Managing Director, Mr Venu Srinivasan, on Wednesday said the intention was to "hand over" the acquired business to a new management.

Bharat Technologies is a supplier of two-wheeler frames to TVS Motor Company.

Mr Venu Srinivasan, who met journalists on the sidelines of the company's annual general meeting of shareholders here, said the acquisition was to "bail out" the existing management.

He did not elaborate, but said Sundaram Auto Components would make no profit in the transaction.

Earlier, addressing the shareholders, he said the company would launch two 150-cc motorcycles shortly — one by December and the other early next year.

Also on the cards is a 90-cc Scooty and a 125-cc Victor variant.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
L&T, Hong Kong co bag Hyderabad airport orders

ClinInvent to start trials for respiratory drug
TVS Motor to hand over acquired co to new management
Rajasthan Spinning to raise $25 m thru debt, equity
GAIL in talks to secure LNG for Dabhol
Glenmark launches osteoporosis drug
Mirza Tanners is now Mirza International
FLAG complains to TRAI about VSNL blocking access
Single window for M&A
IOC awaits Govt nod for IBP merger
Hyundai to invest $600 m in new plant, product development — Launches premium sedan Sonata `Embera'
Bombay Rayon plans IPO
Nicco plans telecom cable unit in Assam
GHCL looking to buy home textile cos in US, Europe
Chittivalasa Jute Mills lifts lockout
ONGC-Mittal combine bids for PetroKazakhstan
Sujana ties up with Bajaj Electricals
DCM Shriram approves stock split, bonus issue
Havell's India gets Dutch certification

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line