Continental has acquired Rico Auto Industries’ 50% share in the joint venture Continental Rico Hydraulic Brakes India. The company is now a fully owned subsidiary of the global supplier.
Since 2009, the plant in Gurgaon, near New Delhi, has producied hydraulic brake system parts for OEM customers in India. These include calipers, drums, master cylinders, brake boosters and load sensing proportioning valves for passenger cars.
Go deeper with GlobalData
“We support worldwide OEMs with their production locations in India as well as [local] OEMs”, said Continental brake executive Peter Laier.
India head Claude dGama Rose said: “We will continue to invest in both development and manufacturing to introduce future technologies to this lucrative market, both in our automotive and rubber businesses.”
Continental last year acquired Modi Tyres in India and expanded its local technical centre. Expansion of automotive facilities in Pune and Manesar is planned for 2012.
