TAFE Acquires Indian Interior Systems Of French Auto Motive Group FORVIA
The maker of tractors and farm equipment TAFE has purchased FAURECIA, a division of FORVIA, a French global automotive supplier, that deals with interiors. The agreement includes FAURECIA's operations in the States of Tamil Nadu, Andhra Pradesh, and Maharashtra. Operations in Chakan in Maharashtra and Anantapur in Andhra Pradesh have concluded their transactions. According to TAFE, operations in Tamil Nadu are anticipated to end soon.
According to the agreement, FAURECIA would continue to provide design capabilities to TAFE and its clients. As a full-service supplier to the Indian automobile industry, TAFE is also well-known in the field of engineering plastics, providing exterior and interior engineered plastic parts.
“TAFE is encouraged by the strong synergistic opportunities that this acquisition offers,” said Mallika Srinivasan, Chairman and MD, TAFE.
She added “We value our relationship with our customers and thank them for the encouragement and support, will like to reiterate our commitment to our customers towards the highest standards of design quality and service. Technology, innovation and manufacturing excellence will drive our journey forward.”
All of TAFE's clients will benefit from synergistic gains from the combination of its plastics division with Faurecia's interior systems company. Toyota, TVS Motors, Hyundai, Kia, Renault Nissan, and GE Medical Systems are some of TAFE's current clients. As part of the agreement, Faurecia will continue to offer its renowned design talents to TAFE and its clients.
According to the statement, TAFE would provide its clients with an upgraded value proposition that would encompass product design, precision tooling design and manufacture, and the high quality that TAFE has been known for
