Rane Brake acquire 65% in Soubhagya Diecast

Rane Brake Linings, a leading manufacturer of friction material, has bought 65% stake in Hyderabad-based Soubhagya Diecast.

"Soubhagya has state-of-the-art aluminium die casting facilities at Hyderabad. Our intent is to increase the capacities substantially over the next three to four years to achieve sales of over Rs 50 crore," L Lakshmanan, CMD of Rane Brake Linings, said while addressing the
40th AGM of the company today.

"The expansion would be through exploiting the vast potential available for exports of pressure die cast components to the auto industry," he added.