Joint Venture with FRAS-LE, BRAZIL for Commercial Vehicle Brake Linings and Pads.
In December 2017, ASK entered into a joint agreement with Fras – Le, Brazil (Part of the Randon Group) for the production of brake pads and linings for commercial vehicles (trailers, trucks and buses above 3.5 tons) to supply to the OEM, IAM & export market.
ASK (World Leader in two wheeler Friction Products) and Fras-le (World Leader in Commercial Vehicle Friction segment).
ASK FRAS-LE FRICTION PVT. LTD., is a Joint Venture between the world’s largest 2W Brake Shoe manufacturer – ASK Automotive Private Limited and world’s largest CV Lining manufacturer – Fras-le, Brazil. Located in Manesar, Haryana, the new joint venture formed is named as ASK FRAS-LE FRICTION PVT. LTD. The new company`s products will be supplied to India, Bangladesh, Nepal and Sri Lanka and will also be exported to other countries through Fras-le global network already serving more than 100 countries.
New Delhi, 06th December, 2017: ASK Automotive Private Limited, a leading manufacturer of friction materials in India with a group turnover of more than 220 million USD, and Fras-le S.A. (a Randon Company), a leading manufacturer of friction material with a revenue of more than 380 million USD and shares traded on the stock exchange (BOVESPA FRAS), have signed an agreement to establish a joint venture in India.
According to the agreement, the Companies plan to enter into a partnership for the production of brake pads and linings for commercial vehicles to supply to the OEM, IAM & export market. The Joint Venture plans to invest more than Rs.100 Crores over a period of 3 years and generating a further employment of more than 900 people.
th more than 70 years of history, Randon Enterprises has achieved global presence and leadership in the sectors of trailers and semi-trailers, off-road vehicles, auto parts and services. The organization is based in the city of Caxias Rio Grande do Sul, Brazil and is present in more than 100 countries, always prioritizing proximity and trust with its audiences, valuing people and profit with sustainability. The company aims to connect people and wealth to generate prosperity and does so through the companies Randon Implementos, Randon Veículos, FRAS-LE, Jost Brasil, Master, Suspensys, Castertech, Randon Ventures, Randon Consórcios, Banco Randon and its subsidiaries.www.randon.com.br/en
Global leader in Friction Material and components for brake systems
Brazil, established in 1954 based out of Brazil. FRAS-LE markets its products to more than 120 countries in the lines of automobiles, motorcycles, commercial vehicles, aviation, railway and industrial. It has units in Brazil, the United States, China, Argentina, Uruguay and India and has strategic distribution centers worldwide. In Brazil, FRAS-LE supplies original friction materials to 95% of heavy and semi-heavy vehicle manufacturers. The company is also a leader in the aftermarket and offers products within the consumer’s reach with the quality of the original part.www.fras-le.com