Joint Venture18 Feb 2025, 02:50 am
Gabriel India Executes License and Technical Assistance Agreements with Marelli Suspension Systems Italy
AI Summary
Gabriel India Limited (GIL) has executed a License Agreement with Marelli Suspension Systems Italy S.p.A (Marelli Italy) for the grant of license to manufacture, assemble, sell, distribute and market certain products in India using technical information provided by Marelli Italy. Additionally, GIL has signed a Technical Assistance Agreement with Marelli Italy for receiving technical assistance and support. This update comes after the execution of the Asset Purchase Agreement announced on January 24, 2024.
Key Highlights
- Gabriel India Limited has executed a License Agreement with Marelli Suspension Systems Italy S.p.A
- The agreement allows GIL to manufacture, assemble, sell, distribute and market certain products in India using Marelli Italy's technical information
- GIL also signed a Technical Assistance Agreement with Marelli Italy
- This agreement provides technical assistance and support to GIL
- These agreements are part of the conditions precedent following the Asset Purchase Agreement announced on January 24, 2024