The Chennai based TVS group, who is having a bitter period in the Indian two wheeler market is working really hard t re enter into their old lost glory period. The company recently lost its third position in the Indian two wheeler market.
Now, most of the two wheeler manufacturers ofIndiaare getting into technological tie up with foreign companies. Some acquires some foreign company, to stay technology advanced and alive in the market.
Following this trend, the TVS group has reportedly acquired Universal Components, UK Ltd,Britain’s wholesale distributor of commercial vehicles’ parts and accessories. This tie up is expected to boost the TVS company in the market.
It was reported that this is the second acquisition by the TVS Group in theUKafter the buyout of Multipart Holdings in 2009.With the two acquisitions, the group’s turnover will cross Rs 1,000 crore in theUKand employ nearly 500 persons, according to reports.