Talbros Automotive completes partial divestment
DSIJ Intelligence / 08 Aug 2017
Talbros Automotive Components informed on Tuesday that the company has successfully completed the partial strategic disinvestment of its non-core materials business assets by sale to the Indian affiliate of Interface Performance Materials
Talbros Automotive Components informed on Tuesday that the company has successfully completed the partial strategic disinvestment of its non-core materials business assets by sale to the Indian affiliate of Interface Performance Materials, USA, who are pioneers and leaders of gasket materials worldwide.
Earlier, the company entered into a raw material sourcing agreement with them to source various gasket raw materials from Interface’s India manufacturing unit. Commenting on the agreement, Anuj Talwar, Joint Managing Director, Talbros Automotive Components, said, “Our raw material localization drive is a step in the right direction. It will help us ramp up our client servicing by shortening lead times for our orders.
It will also reduce our working capital requirement and enhance overall productivity. We estimate that our annual saving will be in the range of 7-10 million.”
Meanwhile, the stock was trading lower by 2.56% at Rs 193 per share on the BSE at 1038 hours. It opened at Rs 198 per share.
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