Rane Madras to buy HCL friction biz for Rs 370cr | Chennai News
Harish Lakshman, chairman, Rane Group Chennai: Rane (Madras) Ltd (RML) has signed an agreement to acquire the friction business of Hindustan Composites Ltd (HCL) for an enterprise value of Rs 370 crore through a slump sale, strengthening its presence in the friction materials segment.The acquired business, which manufactures brake linings, brake pads, brake blocks, clutch…
