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The tire manufacturer Continental vehicles and components acquired from Rico Auto Industries Limited 50% stake it held in the joint venture Continental Rico Hydraulic Brakes India, the German company reported in a statement.
Through this operation, Continental becomes the owner of 100% of the shares of the joint venture in India, which manufactures and distributes since 2009, from a plant in the city of Gurgaon, hydraulic brake components that are intended to customers seated in the Asian country.
Among the products manufactured by Continental Rico Hydraulic Brakes Calipers are for front and rear axles and drum brakes, cylinders or 'boosters' for brakes, among other things automotive.
The vice president of Hydraulic Brake Systems of the German corporation, crisscut fries Peter Laier, explained that India plays an "important role" in the growth strategy of the business area Continental brake systems.
"Investment in Gurgaon activities underlines our intention to add even more value to driving safety for the Indian automotive industry and for end customers," he added.
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