Rane Group acquires steering parts biz of Hical Group

Rane (Madras) Ltd, a leading manufacturer of steering and suspension products and light metal casting components, has acquired steering components business (SCB) of Yagachi Technologies Private Ltd (YTPL), a part of Hical Group. SCB had posted a revenue of INR 35.50 crore in FY21. It manufactures steering and suspension components such as inner ball joints (IBJ) and outer ball joints (OBJ). The division's major customers include Mando India, which in turn serve OEMs such as Hyundai, Kia, Mahindra, etc. SCB has a technical collaboration with a leading South Korean ball joint company.