Friday, March 2, 2007

Cummins buys out Tata Group’s stake in Tata Holset

The $11.4 bn-Cummins, Inc. will acquire the stake held by the Tata Group companies in Tata Holset, its over 12-year old 50:50 JV for an undisclosed sum. It has been rechristened as Cummins Turbo Technologies. The company manufactures turbo chargers for medium and heavy-duty diesel engines for power generation, off-highway and on-highway vehicles. The Tata stake in the JV was held by Tata Motors, Tata Industries and Tata International.

Cummins recently announced a unified branding strategy to align its family of businesses under the Cummins brand. Following this new initiative, Tata Holset will be renamed and re-branded as Cummins Turbo Technologies.

Cummins, Inc. has another equal joint venture with the Tata Group called Tata Cummins, based in Jamshedpur. It manufactures the Cummins B series of engines and will not be affected by equity changes in Tata Holset / Cummins Turbo Technologies.

Read more in The Economic Times article.

RPG Group to buy out Fujitsu's stake in Zensar Technologies

The Economic Times reportsthat the RPG Group has entered into an agreement with Fujitsu of Japan to buy out the latter's stake in Zensar Technologies Limited. Zensar is a 50:50 IT joint venture between Fujitsu and the RPG Group. The 6.9 mn shares held by Fujitsu will be bought by Jubilee Investment and Industries Limited, an RPG Group company.

Related Posts:
Zensar Technologies buys US-based IT firm ThoughtDigital for $24.9 mn
Fujitsu in talks to buy out Intelenet Global Services, eyes acquisitions in the IT space