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Rane (Madras) Limited completed the acquisition of Hindustan Composites Limited's friction business, which will be integrated into RML's Brake Components Business.
Rane (Madras) Ltd signed an agreement to acquire the friction business of Hindustan Composites Ltd for an enterprise value of ₹370 crore in a slump sale transaction. The deal includes two manufacturing plants in Maharashtra and the COMPO brand, and is expected to close by the end of the second quarter.