Investment26 Jan 2024, 01:12 am
Rane (Madras) Limited to Invest up to USD 6 Million in Mexican Subsidiary
AI Summary
The Investment Committee of Rane (Madras) Limited has approved investment in its wholly owned subsidiary, Rane Automotive Components Mexico S de R.L. de C.V. (RACM), an amount of USD 3 million to USD 6 million over the next 12 to 18 months to cater to business opportunities in the North American region. The investment is subject to necessary regulatory approvals in Mexico.,
Key Highlights
- Investment in Mexican subsidiary for automotive components
- USD 3-6 million investment over 12-18 months
- Wholly owned subsidiary set up with initial investment of MXN $ 10,000
- Expected to address opportunities in steering and suspension business in North American region