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Bosch increases stake in Indian company

The Bosch Group has secured a further 40% equity holding in the Indian brake manufacturer Kalyani Brakes Limited bringing its stake in the company to 80%.

The company was previously operated as a joint venture between the two companies.

The company will now be known as Bosch Chassis Systems India Limited. The original joint venture company produced braking systems and components for passengers cars, tractors, three-wheelers and two wheelers in its plants at Jalgaon, Chakan and Manesar employing some 1,800 people and generated sales in 2004/5 of some €63m (£43.4m).

The market for passenger cars in India is growing rapidly and Bosch plans to extend its worldwide manufacturing base for modern braking systems to India including the production of antilock braking systems (ABS).

The Bosch Group has substantial holdings in India and its subsidiary companies including Motor Industries Co. Ltd., (MICO), Robert Bosch India Ltd., and Bosch Rexroth India Ltd employ some 14,000 people and in 2004 its Indian operations generated sales of €548m (£378.4m).

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