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Setco forms venture with FTE

NEW DELHI: Setco Automotive Ltd (Setco) and FTE Automotive GmbH (FTE) on Monday announced the formation of a joint venture to manufacture and supply clutch actuation systems in India.

The joint venture company’s production unit will become operational in the coming months.

While Setco is the largest manufacturer of clutches for heavy and medium commercial vehicles in India, FTE Automotive, Germany, is a leading global manufacturer of hydraulic brake and clutch systems for passenger cars and commercial vehicles, with more than 50 per cent market share globally for clutch hydraulic systems.

The joint venture, FTE Setco Automotive, will manufacture products such as hydraulic clutch actuation systems and components for passenger cars and commercial vehicles.

Speaking on the occasion, Harish Sheth, Chairman and Managing Director, Setco Automotive, said, “Setco aims at being a full range clutch system manufacturer.

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