WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM ...

WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM
Brief Statement about Future Prospects, including Capacity and Capacity
Utilization and Projections:
The Company plans to double its production over the next four years and has
initiated actions towards that end. New plants are being built for increasing capacity.
The growth will come from export business with WABCO and the growing domestic
Indian commercial vehicles (fitted with air brakes) market.
Competitive Strengths:
1. Capability to offer complete braking system solutions;
2. New product development through in-house R&D;
3. Manufacturing excellence through TQM and TPM; and
4. Wide sales and service network.
Key Industry Regulations:
Except for the normal regulations that are applicable to the engineering industry,
there are no specific regulations governing the auto components industry.
History and Management:
The Company was incorporated under the Act as a public limited company bearing
the name Auto (India) Engineering Limited (a wholly owned subsidiary of SCL) on
18th November 2004 with an authorised share capital of Rs. 5,00,000/- divided into
1,00,000 equity shares of Rs.5/- each registered under CIN No.
U34103TN2004PLC054667. The Company obtained the required Certificate of
Commencement of Business.
The name of the Company was changed to its present name i.e. WABCO-TVS
(INDIA) Limited by a special resolution of the shareholders of the Company passed
on 19 th April 2007. The ROC issued a fresh Certificate of Incorporation consequent to
the change in name of the Company on 3 rd May 2007. The registered office of the
Company is at No. 29, Haddows road, Chennai – 600 006.
The Company entered into the Scheme with SCL and their respective shareholders
and creditors. The Scheme was sanctioned by Hon’ble High Court of Madras on 20 th
February 2008. In terms of the Scheme, the Company has taken over the Brakes
Business of SCL from 28 th March 2008 being the Effective Date.
Main Objects:
The main objects of the Company as stated in its MOA are reproduced below:
1. To carry on the business of manufacturers of, and merchants of accessories of
vehicles of every kind and engines of every kind.
2. To manufacture, produce, repair, export, import, purchase, sell in and
generally to carry on business in the manufacture, sale and supply of air
assist and full air brake actuation systems and components and accessories
thereof for automotive and non-automotive applications, besides other
components for vehicles of every kind and for this purpose, to acquire the
whole or any part of the undertaking and assets of any business, and to enter
into any arrangement for reconstructing the company, by way of takeover,
merger, demerger, amalgamation, acquisition or schemes, within the objects of
the company.
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