Rane (Madras) to acquire steering components business of Yagachi
Indian auto component group Rane (Madras) Limited said that its board of directors approved the acquisition of the steering components business (SCB) of Yagachi Technologies, which is a part of Hical Group.
The financial terms of the deal were not disclosed.
The steering components business being acquired by Rane (Madras) manufactures suspension and steering components, such as outer ball joints (OBB) and inner ball joints (IBJ).
Mando India, which caters to OEMs like Hyundai, Kia, and Mahindra, is one of the largest customers of the steering components business of Yagachi Technologies.
The steering components business also has technical collaboration with a top South Korean ball joint company. Its revenue for FY21 was INR 35.5 crores.
Founded in 1960, Rane (Madras) is part of the Rane Group of Companies based in Chennai. The auto component group has a couple of divisions — steering and linkages division (SLD) and light metal casting India division (LMCI).
The steering and linkages division manufactures mechanical steering gears, steering, hydrostatic steering systems, and suspension linkage products. On the other hand, LMCI manufactures low porosity, light metal casting such as engine case covers and steering housings.