Conti buys out Indian brake JV partner
Continental AG has acquired the 50 per cent share of its Indian brake joint venture (Rico Hydraulic Brakes India Ltd) belonging to Rico Auto Industries Limited. In buying out Rico Auto Conti has made Rico Hydraulic Brakes into a fully owned subsidiary of Continental.
Since 2009 the plant in Gurgaon near New Delhi has been producing and supplying components for hydraulic brake systems to OEM customers in India. These include products and services consisting of calipers for front and rear axles, drum brakes, master cylinders, brake boosters and load sensing proportioning valves for all kind of passenger cars.