The joint venture with its plant in Manesar will target supplies to above 3.5-tonne trailers, trucks and buses in India and abroad.
06 Dec 2017 | 11598 Views | By Autocar Professional Bureau
ASK Automotive, a leading manufacturer of friction materials in India with a Group turnover of over Rs 1,390 crore, and Brazil’s Fras-le, a Randon company, which also manufactures friction material, have signed an agreement to set up a joint venture in India.
The two companies plan to ...
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ASK Automotive, a leading manufacturer of friction materials in India with a Group turnover of over Rs 1,390 crore, and Brazil’s Fras-le, a Randon company, which also manufactures friction material, have signed an agreement to set up a joint venture in India.
The two companies plan to enter into a partnership for the production of brake pads and linings for commercial vehicles (trailers, trucks and buses above 3.5 tons) to supply OEMs and the independent aftermarket. The JV will see an investment of over Rs 100 crore over a three-year period and generate employment for more than 900 people.
Located in Manesar, Haryana, the new company will operate under the name ASK Fras-le Friction. While it will supply products to India, Bangladesh, Nepal and Sri Lanka, it will also cater to over 100 countries which are part of the Fras-le global network.
“The joint venture will enable customers to enjoy world-class products at competitive pricing. This is our contribution to the Make in India vision of the country,” states K S Rathee, chairman and managing director, ASK Automotive.
“I foresee a great future for the JV as it combines best-in-class technology with India’s manufacturing strengths,” added Aman Rathee, president, ASK Automotive – Friction division.
“The market for commercial vehicles in India is very large and shows excellent prospects for future development. Fras-le wishes to be part of this market, which is in line with our plans for growth and internationalisation,” said Sergio de Carvalho, CEO of Fras-le.
“Within our group, we have a long history of participating in joint ventures and we believe that this operation in India will be very successful as well,” said David Abramo Randon, president of Randon Companies.
How the partners stack up
The ASK Group, which has its own R&D and design centre, has 14 strategic manufacturing locations across India and employs more than 6,500 people. ASK Automotive manufactures friction materials motorcycles and scooters, brake shoes, brake pads, clutches, brake assemblies and other aluminium die casting components.
Fras-le is one of the five largest manufacturers of friction materials in the world, with plants strategically located in Brazil, United States and China, in addition to warehouses in Argentina, Europe, United States and Colombia, commercial operations in Chile, Europe, Mexico, the UAE and South Africa. With a portfolio of more than 12,000 P/Ns of the FRAS-LE and LONAFLEX brands, the company manufactures brake pads and linings for heavy vehicles; brake pads, linings and shoes for light vehicles; clutch facings, brake pads and brake shoes for motorcycles; brake pads for aircraft; brake pads and shoes for trains and subways; molded and woven linings and universal sheets and other products for hydraulic brake systems such as master cylinders, wheel and clutches, repair of parts and others.