* CO, FRAS-LE S.A. TO ESTABLISH JV IN INDIA FOR PRODUCTION OF BRAKE PADS, LININGS FOR COMMERCIAL VEHICLES TO SUPPLY OEM, IAM MARKETS

* JV PLANS TO INVEST MORE THAN 1 BILLION RUPEES OVER A PERIOD OF 3 YEARS Source text – [ASK Automotive (P) Ltd signs Joint Venture with Fras-le, Brazil ASK (World Leader in Two Wheeler Friction) and Fras-le (World Leader in Commercial Vehicle Friction segment) New Delhi, 07th December, 2017: ASK Automotive (P) Ltd., 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 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.]