Mahle buys-out Indian JV
German car parts supplier Mahle Group acquired all of the shares in its former joint venture company Mahle IPL Limited. Mahle had already been a majority partner in the joint venture with a share of about 60 percent. Prof. Dr. Heinz Junker, Chairman of the Management Board of the Mahle Group and CEO, commented: “In recent months, we have been able to secure important high-volume orders from major international customers, and therefore we wanted to have full independence in our future investment decisions and the transfer of technology.”
The piston plant, which is located in Chennai in southern India, generated sales of approximately 15 million euros in 2013. Mahle also operates Mahle Engine Components India Private Limited, a wholly owned subsidiary in Pithampur/India, and is a majority shareholder in the joint venture Mahle Filter Systems (India) Limited and Behr India Limited.