TAFE buys interior biz brand Faurecia for Rs 400 cr

CHENNAI: In a recently-concluded deal pegged at about Rs 400 crore, x- Tractors and Farm Equipment Limited acquired Faurecia’s Indian interior business of French Group Forvia, serving major automotive customers such as Mobis-Kia, Mobis-Hyundai, Volkswagen, FCA and Tata.

The deal covers Faurecia’s operations at Chakan - Maharashtra, Anantapur - Andhra Pradesh and Tamil Nadu. The transaction with respect to Chakan and Anantapur has been completed while the TN operation is expected to be concluded shortly.

The integration of TAFE’s plastics business with Faurecia’s interior systems business offers synergistic benefits to all its customers. TAFE’s current customers include Toyota, TVS Motors, Hyundai, Kia, Renault Nissan and GE Medical Systems.

TAFE, an international tractor major with a well-established engineering plastics business, supplying exterior and interior automotive engineered plastic components as a full service provider to the automotive industry in India, possesses world-class tool design and production capability.

Faurecia, as a part of this deal, will continue to support TAFE and its customers with its design capabilities. With complementary capabilities coming together TAFE will now offer an enhanced value proposition to its customers that includes cutting edge product design, precision tooling design and manufacture, and superior quality, that TAFE has been recognised for.

Mallika Srinivasan, CMD, TAFE, said, “TAFE is encouraged by the strong synergistic opportunities that this acquisition offers”.