Source: Business Standard post
AURANGABAD, India – Endurance Technologies announced that its subsidiary, Endurance Adler SpA, and a direct subsidiary of Endurance Overseas Srl, has acquired 100 percent stake in Grimeca Srl.
Grimeca is an advanced service company involved in designing and developing new braking products for motorcycle and light-vehicles, including co-design with original equipment manufacturer (OEM) customers.
Grimeca has been a technology provider for braking solutions to the Endurance since 2015.
This strategic acquisition aims to strengthen technological prowess of Endurance around braking systems.
The acquisition has been completed for a consideration of €2.25 million, which includes €0.9 million for the 100 percent stake in Grimeca and €1.35 million for technical know-how and intellectual property rights of braking systems and chassis components, and the G Grimeca brand. This acquisition is expected to provide impetus to the growth opportunities for the Company’s braking business in India, both for domestic and export markets.
Continental Head on the Future Indian Auto Market
Endurance Technologies Ltd
Endurance Technologies is one of India’s leading automotive component manufacturing companies. Anurang Engineering Company Private Limited which merged into the company in 2006, commenced manufacturing of aluminum castings in Aurangabad, Maharashtra, India in fiscal year1986.
The company has grown organically in India and diversified our capabilities by introducing suspension products, transmission products and braking systems. Starting with two aluminum casting machines in FY1986, Endurance has grown to operate 16 plants in India and nine plants in Europe.
Today Endurance Technologies is the largest aluminum die casting manufacturer in India and one of the leading automotive component manufacturers in aluminum die casting (including alloy wheels), suspension, transmission and braking systems. We are a complete solution provider from design to after-market service.
The company’s products include braking systems such as hydraulic disc brake assemblies including calipers, master cylinder and rotary disc brake for motorcycles & scooters and hydraulic drum brake assemblies and tandem master cylinder for three wheelers
In Europe, Endurance predominantly caters to four-wheeler OEMs, focusing on engine and transmission components