ASK to set up Rs 100 crore brake pad plant in JV with Brazilian co_ASK to set up Rs 100 crore brake pad plant in JV with Brazilian co

ASK to set up Rs 100 crore brake pad plant in JV with Brazilian co

May 21, 2024

Haryana friction material maker ASK Automotive plans to invest Rs 1 billion to set up a plant in partnership with Fras-le, Brazil to manufacture brake pads and linings for commercial vehicles.

The two partners today agreed to set up a joint venture, which is expected to be finalized soon. The joint venture will produce brake pads and linings for commercial vehicles (trailers, trucks and buses weighing more than 3.5 tons), he added. It will be produced at a family Fras-le Friction plant called ASK, ASK Automotive said in a statement.

The partners said they plan to invest more than Rs 100 crore over the next three years to supply the products to Bangladesh, Nepal and Sri Lanka besides meeting domestic demand.

The Brazilian company produces automotive friction materials and is part of the Randon company with a presence in more than 1000 countries.

KSS Rathee, Chairman and Managing Director, ASK Automotive “This joint venture will allow our customers to enjoy world-class products at competitive prices.”

The new plant will house all major OEMs and secondary markets (IAMs). “The domestic commercial vehicle market is large and has great potential for future growth. Fras-le Sergio de Carvalho, CEO (Sergio de Carvalho) “This is in line with our growth and internationalization plans.”

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ASK to set up Rs 100 crore brake pad plant in JV with Brazilian co