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Stock Report
Bharat Gears German collaborator to set up subsidiary in India
Posted On : 2006-10-19 07:24:28( TIMEZONE : IST )
Bharat Gears Ltd has announced that the Board of Directors of the Company at its meeting held on October 19, 2006, inter alia, has resolved to give No Objection Certificate to its Foreign Collaborator i.e. ZF Friedrichshafen AG, Germany for establishment of a their own Wholly Owned Subsidiary in India, for all local business activities, in fields of driveline and chassis components and systems for automobile, off-highway, railway, and special vehicle special applications as well as for an independent representation of ZE Group in the India OEM with After Sales Activities including the establishment of subsidiaries and affiliates, wholly or partly owned and such other activities as ZF deems necessary for it to conduct business in India.
