Chennai, Aug. 21 -- Rane (Madras) Limited (RML) on Friday announced the successful completion of the acquisition of the friction business of Hindustan Composites Limited (HCL).
The Business Transfer Agreement was signed on June 30, 2026 and was subject to customary regulatory approvals and other closing conditions. With the conditions having been fulfilled, the transaction has now been successfully completed.
HCL's Friction Business will be integrated into RML's brake components business. The acquisition strengthens RML's established leadership in the friction business. The integration will proceed in a phased manner to maximize value for our customers and stakeholders, driving operational synergies while leveraging the complementary stre...