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MOTORINDIA
l
August 2012
AVTEC-ASSAG
partnership for
technology upgradation
AVTEC, a CK Birla Group
company, and ASSAG of Swit-
zerland have entered into a
strategic partnership agree-
ment with effect from May 21,
2012. Under the agreement,
AVTEC could participate in the
equity of ASSAG and on the
governing board.
Mr. Prabhakar Kadapa, CEO, AVTEC,
and Mr. Stefan Schoen, CEO, ASSAG,
signed the agreement at Dudingen, Switzer-
land.
ASSAG is a pioneer in face gear technolo-
gy with several patents to its credit and a so-
lution provider for high precision and high
quality gears. AVTEC is very strong in ap-
plication engineering, powertrain aggregate
and component production. The know-how
of ASSAG and the capabilities of AVTEC complement each other
and create synergies.
Mr. Stefan Schoen continues to lead the organization along with
Mr. S. Muralidhar, an experienced manufacturing management
professional, who will be joining him in due course.
Commenting on the occasion, Mr. C.K. Birla, Chairman of
AVTEC Ltd., said: “I am highly delighted with the value added
synergy which will transform both the organizations, offer end-to-
end solutions to the customers and provide knowledge enrichment
and greater career progression opportunities to the employees.”
ACTIS, a private equity firm, holds 30 per cent equity in AVTEC.
Commenting on this acquisition, Mr. J.M. Trivedi, ACTIS’s Head
of South Asia and a member on the AVTEC Board, said: “We be-
lieve this acquisition is a highly complementary fit to AVTEC’s
capabilities in the powertrain business. As a long-term partner in
AVTEC’s growth, ACTIS is pleased to support AVTEC’s initia-
tives to expand its technology base and industry footprint.”
w
component zone
Mr. C.K. Birla, Chairman, AVTEC Ltd.
This partnership would reinforce AVTEC’s commitment to custom-
ers as a one-stop solution from concept to design, prototyping and
series production. It would bring to customers better technology,
world class quality, and on-time delivery at competitive prices.