TAFE acquires Group Forvia's Indian interior systems business Faurecia

Deal size not disclosed; transaction for two sites completed, third likely to close soon

TAFE (Tractors and Farm Equipment Ltd), the world's third largest tractor maker, said on Friday that it acquired the Indian interior business of Group Forvia called Faurecia, which serves major automotive customers such as Mobis-Kia, Mobis-Hyundai, Volkswagen, FCA and TATA.

The deal covers Faurecia’s operations at Chakan in Maharashtra, Anantapur in Andhra Pradesh, and Tamil Nadu. The transaction for Chakan and Anantapur has been completed, that for Tamil Nadu is likely to close soon. TAFE is also well-established in engineering plastics, supplying exterior and interior engineered plastic parts as a full service provider to the automotive industry in India.

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