Chennai – India – August 3, 2011: WABCO–TVS (INDIA) Limited has today announced its name change from WABCO-TVS (INDIA) Limited to WABCO INDIA LIMITED. It is in line with an agreement entered with Sundaram-Clayton Limited, after the acquisition of the equity shares by Clayton Dewandre Holdings Ltd from TVS group, who have the approval from the shareholders as well as the Registrar of Companies (ROC) in India to proceed with the new name.
WABCO Holdings Inc., a global technology leader and tier-one supplier to the commercial vehicle industry, acquired majority ownership in WABCO–TVS (INDIA) Limited in 2009 thereby strengthening WABCO’s presence in India. After the acquisition, WABCO was allowed until June’12 to use the TVS trademark in sales, marketing and distribution of products. WABCO will now run its India operations under the WABCO INDIA brand name.
“We are proud of our TVS heritage as it has helped us to build strong relationships with customers across India for over 40 years,” said Mr. P. Kaniappan, Whole–time Director, WABCO INDIA LIMITED. “We are also passionate about contributing to WABCO’s continued global success through our unique engineering capabilities, broad range of technologies, network of local suppliers, and more than 7,000 distribution outlets nationally for product support and other aftermarket services.”
“A well-anchored market leader, WABCO INDIA is highly awarded by customers for quality and innovation while also internationally recognized for world class manufacturing,” said Mr. Jacques Esculier, WABCO Chairman and Chief Executive Officer. “WABCO INDIA is committed to sustaining its success as a premier supplier, and will continue to localize new technologies while setting new global standards for service levels and further enhancing its knowledge of new technologies within its extensive product support network.”
WABCO INDIA designs, manufactures and markets conventional braking products, advanced braking systems and other related air-assisted technologies, systems and products for commercial vehicles. It directly serves customers locally and through WABCO internationally. WABCO INDIA currently has three world class factories in India - Ambattur, Chennai; Mahindra World City, Chennai; and Jamshedpur. It has over 1,100 employees and reported sales of Rs.899 crores in 2010-11. For more information, visit www.wabcoindia.com
WABCO (NYSE: WBC) is a leading supplier of safety and control systems for commercial vehicles. For over 140 years, WABCO has pioneered breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the world’s leading commercial truck, trailer and bus manufacturers. With sales of $2.2 billion in 2010, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com
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