Tata AutoComp to acquire Gestamp stake in ASAL

Tata AutoComp systems limited, one of the leading auto-component conglomerate in India, today announced that Tata Autocomp Systems Limited has agreed to purchase 37.5% stake in Automotive Stamping and Assemblies Limited (ASAL) which is a listed company from Gestamp Services, S.P. of Spain for a price consideration of Rs. 89.50 per share. This share transfer is an inter se transfer between the qualifying promoters. As per this deal Tata AutoComp will own 75% share in ASAL and the remaining stake would be held by the public.

Mr. R. S. Thakur, ED & CEO, Tata Auto Comp stated that they have identified stampings as a core business area and they are moving with overall growth strategy and we expect and they expect a significant growth in this business. He commented that ASAL has grown at the stage where the company can offer a wide range of products and services to meet the increasing demands from the rapidly increasing Indian Automobile Industry.

Since two years, Tata Autocomp has been extenuating its portfolio and has made its investment in 7 of its business units. This takeover is part of Tata Autocomp’s consolidation strategy which will inturn enable Tata AutoComp to focus on their select product lines and empower their business in future. With acquisition on Automotive Stamping and Assemblies Limited(ASAL), Tata Autocomp will have 5 subsidiaries and 6 joint ventures with leading auto-component manufacturers. At present Tata AutoComp has only ASAL listed in their portfolio.

The Tata Group subsidiary, Tata Autocomp is one of the advanced auto-components in India which provides products and services to the Indian and other OEM’s worldwide along with Teir 1 suppliers. The list of Tata AutoComp clients includes Ashok Leyland, BMW, Fiat, Ford Motors India, Force Motors, General Motors India, John Deer, Honda, Mahindra & Mahindra, Mahindra-Navistar, Man, Mercedes-Benz, Nissan, Piaggio, Renault, Toyota Kirloskar Motors Limited, Volkswagen, Volvo-Eicher and Tata Motors. This company has its own expertise and capabilities in Composites, Automotive Interior & Exterior Plastics and Engineering. It has 6 joint ventures with companies from the Global Auto Component Industry having more than 40 manufacturing facilities in India and China.

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