Talbros Automotive Components has received an approval for entering into definitive agreements for formation of a 50:50 joint venture (JV) with Sistemi Sospensioni S.p.A, a wholly owned subsidiary of Magneti Marelli S.p.A, which would undertake the business of design and manufacturing of suspension systems and modules for automotive applications. The board at its meeting held on November 14, 2011 has approved for the same.
In this connection, stamping business owned by the company shall be transferred to the proposed joint venture company to be owned by the company and Sistemi Sospensioni S.p.A. Further, the sale of business by the company is subject to the approval of shareholders by postal ballot and other customary closing conditions.
Talbros Automotive Components the flagship manufacturing company of the Talbros Group was established in the year 1956 to manufacture Automotive & Industrial Gaskets in collaboration with Coopers Payen of UK, now Federal Mogul Sealing Systems (Slough)UK. Their research and development Centres showcase their design capabilities including endurance, static and simulated environment testing. Today, their manufacturing prowess spans over 6 business and 12 facilities.
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