Mumbai: Italian auto component maker Streparava Holding SPA said it has bought out its Indian partner Sansera Engineering from the joint venture that makes engine parts. The financials of the deal were not disclosed.
Streparava earlier held 49 per cent equity in the company and the remaining 51 per cent was held by Sansera Engineering Pvt Ltd.
Sansera Engineering is located in Bangalore and will now be Streparava’s wholly-owned Indian venture. Streparava is an Italian manufacturer of auto components and makes rocker arms, chassis components, bearing cups, valve bridges and other powertrain components for the commercial vehicle industry.
Streparava was founded in 1951 and has been operating in Italy for over 60 years. Apart from Italy, Streparava has a presence in Brazil, Spain and China.
The Indian company Sansera Engineering’s commercial production started in 1987. It supplies products to more than 20 customers in India and globally. Its reported consolidated revenue was about Rs 550 crore for the year ended March 31.
In a statement, a spokesperson of Streparava said, “Streparava is committed to strengthening its presence in India beyond the current range of products being produced in the Bangalore facility, to other areas such as driveline and chassis components.”
Tecnova India, a Delhi-based consulting company, was the advisor to the deal.
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