Talbros Automotive Components has successfully completed the partial strategic disinvestment of its non-core materials business assets by sole to the Indian Affiliate of Interface Performance Materials, USA who are pioneers & leaden of gaskets materials worldwide. Talbros has also entered into o raw material sourcing agreement with them to source various Gasket row materials from Interface's Indian manufacturing unit.
The disinvestment is expected to help the company achieve two important things i.e. sourcing important material locally will lead to faster turnaround time in executing client orders. This will simultaneously help the Company reduce imports by 15%, thereby, reducing the working capital requirements and the exposure to foreign exchange fluctuations; and Savings on fixed cost. The total savings expected to accrue from the strategic disinvestment will be in the range of Rs 7-10 million per annum.
