Rane (Madras) has received approval to invest up to $30 million (earlier $20 million) in Rane Precision Die Casting Inc., USA (RPDC), step-down subsidiary, either directly or through Rane (Madras) International Holdings BV, The Netherlands (RMIH), wholly owned subsidiary of the company, over the next five years. The Board of Directors of the Company at its meeting held on July 24, 2019 has approved the same.
Rane (Madras) is the manufacturer of steering & suspension systems for every segment of automobile industry, viz Passenger cars, Multi utility vehicles, Light commercial vehicles, Heavy commercial vehicles and Farm tractors.
