26 Nov 2008
ERJ staff report (DS)
Mumbai, India -- Federal Mogul will continue to support Talbros Automotive Components Ltd (TACL) in development & manufacturing of all the non-asbestos Gaskets coveted under the existing Technical Assistance Agreement till the expiry of the agreement in 2013, according to a notice filed on the Bombay Stock Exchange.
TACL made the announcement, adding that, "Federal-Mogul is free, to manufacture and distribute Dynamic Seals and Multi Layer Steel (MLS) Gaskets in India, without objection from Talbros Automotive Components Ltd (TACL). However, Talbros Automotive Components Ltd (TACL) will manufacture Multi Layer Steel (MLS) Gaskets supported by Nippon Leakless Corporation (NLK) of Japan under a separate TAA."
TACL, an existing joint venture partner of Federal Mogul had earlier objected to Federal-Mogul's plans to set up a factory in India to make seals and gaskets. The Indian Foreign Investment Promotion Board now finds no objection to the proposal.
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Stock exchange announcement from TACL
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