Germany’s Schmitz Cargobull acquires 27.5% stake in cold chain truck bodies maker SZIT

Horstmar, Germany, headquartered Schmitz Cargobull AG, Europe’s leading manufacturer of semi-trailers, has made a strategic investment in Mumbai-based Sub Zero Insulation Technologies (SZIT) , one of India’s top producers of refrigerated and dry freight truck bodies. Under the agreement, Schmitz Cargobull will acquire a 27.5% equity stake in SZIT, with an option to increase its shareholding over the coming years.Sub Zero produces over 1,500 units annually and serves as an approved supplier for major OEMs, including Tata Motors, Mahindra, Ashok Leyland, Volvo Eicher, Isuzu, and Bharat Benz.