Rane Madras

The boards of Rane (Madras) Ltd, Rane Brake Lining Ltd, and Rane Engine Valve Ltd approved a scheme of arrangement to merge Rane Brake Lining and Rane Engine Valve into Rane (Madras), creating a larger auto component player with a combined turnover of ₹3,373 crore.

Rane (Madras) Ltd, through its subsidiary Rane Automotive Components Mexico, established a greenfield facility in Aguascalientes, Mexico, for manufacturing steering and suspension components. Initial investment is USD 3 million, rising to USD 6 million over 12-18 months.

Rane Madras LTD will invest US$31 million to build its first plant in Mexico, in Aguascalientes, creating over 300 jobs for manufacturing steering and suspension systems.

Rane Madras Ltd approved the acquisition of the Steering Components Business of Yagachi Technologies, a Hical Group company, in an all-cash deal. The business produces steering and suspension components for passenger vehicles.