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Setco acquires U.S. facility of Haldex

CHENNAI : Setco Automotive has announced that it has acquired the U.S. manufacturing facility of Haldex Brake Products Corporation through its subsidiary; Setco Automotive N.A. Inc. in Paris, Tennessee. According to a release, it is an asset purchase deal on an ongoing basis, and is valued at over Rs. 22 crore ($4.9 million.). Setco plans to expand operations to over 30 countries by 2010. Setco, with its physical presence in the U.S., U.K. and India could now cater to various geographies globally in a strategic manner, the release added.

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