TVS Mobility arm acquires Italy-based automotive components supplier

TVS Mobility group said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market.

TVS Mobility group on July 1 said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market.

The pact between the two partners includes the 100% purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement.

It also said that both companies will continue to operate normally during the integration period.

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 (Italy)-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 OEMs (Original Equipment Manufacturers), trailer manufacturers Tier 1 suspension System suppliers and Indian Railways.