7 posts tagged “york”
11/7/09
Source: http://www.wheelsunplugged.com/ViewNews.aspx?newsid=3812
TRF Limited is gearing up to spend Rs. 50 crore for shifting the production of its trailer undergears facility from Australia to Jamshedpur, where it would begin rolling out parts such as axle and suspensions. It is widely believed that its products will be catering to the needs Tata Motors for rigid body applications such as tippers, refrigerated vans, garbage compactors or trailers. However, its assembly work at Australia, which is currently run by its Singapore-based subsidiary- York Transport Equipment (Asia) Pte-will continue.
TRF Limited is part of the Tata Group of Companies, comprising over 90 enterprises in seven business sectors having operations in 40 countries. Founded in the last quarter of the 19th century, at a time when India had just embarked on the road to independence, the Group's business opportunities are aligned with nation building.
TRF undertakes turnkey projects for power and steel plants, ports, fertilisers and mining sectors. Over the last five decades, TRF's products and services have developed a market for themselves in the infrastructural sector in India and overseas. The company has several international collaborators and technology associates.
As mentioned above, TRF also owns a subsidiary, York TEA, Singapore, which produces and distributes trailer undergears, and has a market presence in 27 countries.
9/4/09
Source: http://machinist.in/index.php?option=com_content&task=view&id=2027&Itemid=2
Jamshedpur : York Transport Equipment (India) Pvt Ltd [YTEI], a subsidiary of TRF Ltd, launched the first axle from its manufacturing facility located in TRF’s premises in Jamshedpur, India.
Speaking on the occasion of the launch, Mr Sudhir Deoras, Managing Director, TRF Ltd and Chairman, York Group, said that York Transport Equipment (India), would build capacity to produce over 100,000 axles in the future.
York’s most popular axle in India is the 5021 axle, which is a 6” square axle with 14mm wall thickness. These axles are specifically designed for trailer application and can carry 12 tonnes at speed of 105 kmph. York's products meet European ECE quality standards, certified by RWTUV (German) and have compliance approvals with the Australian Design Rules. YTEI plans to soon start manufacturing other variants of these axles viz., 5021 with wider track of 1950mm, 5021 with Antilock Braking System (ABS) ready. Another popular axle 2021, a 5” round axle widely used in air suspension applications would also be produced very soon.
York’s products have been sold to trailer builders in India since the last over five years. Tata Motors is a major user of York axles and other products in the trailers that they sell along with their prime movers. In view of fast growing demand for trailers and the need to be close to the rapidly growing customer base in India, York Group, a subsidiary of TRF Ltd, since October 2007, has set up York Transport Equipment (India) Pvt Ltd [YTEI].
The York Group has a wide range of products, which includes:
- Axles (5” round, 6” square) from 12 to 17.5 ton
- Disc Brake axles, Self Steer Axles and ABS ready axles
- Mechanical leaf spring suspension (both under slung and over slung) from 12 to 17.5 tonnes
- Mechanical Bogie suspension from 20 to 40 tonnes capacity
- Walking beams suspension from 24 to 40 tonnes capacity
- Air suspension from 9 to 12 tonnes capacity.
York Transport Equipment (Pte) Ltd., Singapore, is a leading manufacturer of trailer axles, mechanical and air suspensions and other trailer accessories in Asia Pacific, Australia-New Zealand, Middle East and Africa regions. York has three manufacturing units at Singapore, Melbourne in Australia and QingDao in China.
9/7/09
Source: http://machinist.in/index.php?option=com_content&task=view&id=2195&Itemid=2
Mumbai: TRF, a Tata enterprise, has signed an agreement to acquire Dutch Lanka Trailer Manufacturers Limited (DLT), a trailer manufacturing company based in Sri Lanka. In the first phase, TRF will acquire 51% of Equity Shares at a consideration of US$ 8.67 million. It would also sign a Call & Put Option Agreement for acquisition of balance 49% of Equity Shares at a consideration of US$ 8.33 million.
DLT has manufacturing facility in Sri Lanka and sells trailers in as many as 30 countries. Through its Joint Venture with TATA International Ltd. in India, it manufactures & sells Trailers in India.
Dutch Lanka Engineering (Private) Limited, 100% subsidiary of DLT also has a subsidiary in Oman which manufactures and sales trailers in Middle East markets.
Recently, TRF had entered into a shareholders agreement along with Tata Capital and Jasper Industries to form a joint venture viz, Adithya Automotive Applications with the main objects of engaging in the business of automotive applications to provide end solutions through fabrications and machining for vehicles to be used as tippers, load bodies, trailers, refrigerated bodies, etc.
York Transport Equipment (India) Pvt Ltd [YTEI], a subsidiary of TRF Ltd, launched the first axle from its manufacturing facility located in TRF’s premises in Jamshedpur, India a few months back. Singapore based York Transport Equipment (Pte) Ltd also has manufacturing units at Singapore, Melbourne in Australia and QingDao in China.
In June, 2009, the company turned a new page in its history by deciding to issue bonus shares in the ratio of 1:1 (ie, one share for every one share held by the existing shareholders of the company.
Rs 48 crore equipment order for power project
Recently the company also bagged an order worth Rs48 crore for the design, engineering, supply and commissioning of coal handling plant equipments from BGR Energy Systems for the 2x600MW Kalisindh Thermal Power Project in Rajasthan. Some of the major equipments that will be supplied under the order are: wagon tipplers with side arm chargers, stacker cum re-claimers, apron feeders, ring granulators, and grizzly feeders. The company will also make available the necessary spares under the contract.
This sizeable order for the supply of the thermal power project equipments will serve as one measure that will enable the company to fulfil its aspiration to grow rapidly – five times in five years — and become a Rs2,500-crore company by 2013, by enhancing focus on material handling business and entering new businesses as necessary.
- Axles (5” round, 6” square) from 12 to 17.5 tonne
- Disc brake axles, self steer axles and ABS ready axles
- Mechanical leaf spring suspension (both under slung and over slung) from 12 to 17.5 tonne
- Mechanical bogie suspension from 20 to 40 tonne capacity
- Walking beams suspension from 24 to 40 tonne capacity
- Air suspension from 9 to 12 tonne capacity
9/3/08
Source: http://www.tata.com/trf/media/20080309.htm
The second global production facility of York Transport Equipment (Asia) Pte Ltd of Singapore — a subsidiary of the Jamshedpur-headquartered TRF Ltd— is going to be set up in India by the end of 2008-09.
York Transport Equipment is engaged in the business of manufacturing and distributing trailer undergears and trailer components and has a presence in 27 countries. The proposed manufacturing facility would be set up under the York India umbrella, according to Mr Sudhir Deoras, Managing Director, TRF Ltd.
Possible location
The Tata Strategic Management Group has undertaken a study to determine the size of the market for York products in India, its growth potential, and so on. The location of York's manufacturing facility in India, however, is yet to be decided. "We need to be where the trailer manufacturers are located. One possible location could be the Mumbai-Delhi corridor," Mr Deoras told Business Line.
According to him, with growth in the economy and expansion of the road infrastructure in the country, movement of trailers was bound to go up. As such, this offered great scope for business growth of companies such as York Transport Equipment.
Mr Deoras said TRF Ltd - which is in the business of engineered equipment, systems and services for bulk material handling systems, steel plant systems, coal beneficiation systems, and so on - has acquired 51 per cent of the equity stake in York Transport Equipment with a call and put option in place for acquiring the balance 49 per cent by April 2010. Consequent to the acquisition of the 51 per cent equity stake in York Transport, TRF has also taken over the management of the company.
At present, around Rs 15 crore worth of York products are sold in India annually under the York brand. It is hoped that, within the next three years, sales of York products would generate revenue of "at least Rs 200 crore" for York India, Mr Deoras said.
TRF, a specialist manufacturer of advanced systems for bulk material handling plants and mining machinery, has acquired 51% of York Transport for around Rs 45 crore, which will lead TRF to own and control the making and selling of trailer axles and related components worldwide.
The Tatas move is a clear departure from their earlier strategy to get their group companies out of non-core businesses. The conglomerate had earlier got out of cement and paints and also pared down their exposure in the consumer goods sectors. Some of the companies which the Tatas got out include ACC, Lakme, Merind, Tomco and Goodlass Nerolac. The group also exited from joint ventures with Timken, Lucent, IBM and others.
“It was a deliberate strategy to look at ways to make TRF more robust,” said TRF executive director Ramesh Nandrajog. “Although it (York’s business) is different from TRF’s operations, the synergies to group companies such as Tata Motors and Tata International’s joint venture are immense,” he added.
Tata Motors currently buys axles from its unit HV Axles and Meritor and also imports them for its trucks. Tata International, on the other hand, has a JV — Tata International DLT — with Dutch Lanka Trailer Manufacturers of Sri Lanka for making and assembling trailers.
The TRF acquisition will enable Tata Motors to have an additional source of supply for making axles. “We currently buy axles from HV Axles and Meritor and also through imports. We make prime movers which require niche, specialised axles. We haven’t given a thought to buying axles from TIL so far,” said Tata Motors executive director PM Telang.
The trailer and the prime mover segment are fast-growth areas for the Indian commercial vehicle market and many players like Ashok Leyland, Scania, Daimler Chrysler and Volvo have been looking at ways to increase their presence in the segment.
The Tatas move is in line with what leading management consultants have been advocating — diversifying is not bad. A recent report by management consultancy Boston Consulting Group (BCG) says that more than half of the diversified companies, which the consultancy analysed, beat the stock market average generating shareholder returns comparable to many top-focused firms.
“Firms today can’t have a dogmatic view about diversification,” says BCG managing director Janmejaya Sinha while discussing the merits of companies having different interests. “It’s not the degree of diversification but how it is managed, that is important,” he added.
The TRF board will meet on September 8 to discuss the shareholders agreement with York. The company has a put and call option to buy the remaining shares in York Transport within three years. TRF is currently doing a due diligence exercise on the Singapore company.
24/07/07
Source: http://www.indiainfoline.com/industry/innernews.asp?storyId=40674&lmn=5
TRF Ltd. said on Monday that it proposes to acquire about 51% stake in York Transport Equipment (Asia) Pte. Ltd., a wholly owned subsidiary of Baker Technology Ltd.
The company has entered into a conditional Share Purchase Agreement with Singapore's Baker Technology for buying 12,870,941 shares, representing about 51% of the issued and paid-up share capital of York Transport for S$16.57mn.
York Transport is in the business of designing, manufacturing, marketing and distribution of trailer axles and related components under the brand names "York" and "Rednet", and other components and accessories as well as trailers.
The deal is contingent upon TRF carrying out a due diligence regarding York Transport and its subsidiaries, besides getting an approval from the shareholders of the Singapore-based company.
Baker Technology has granted TRF a call option, whereby the company can purchase the balance 12,366,198 shares, representing about 49% of the issued and paid up share capital of York Transport. The call option may be exercised by TRF at any time on or after April 1, 2010.
Meanwhile, TRF has granted Baker Technology a put option which when exercised will require TRF to purchase from Baker Technology the Option Shares. The Put Option may be exercised at any time on or after April 1, 2010.
TRF and Baker Technology will enter into a non-competition deed whereby Baker Technology will agree not to enter into or carry on fore years any business which is in competition with the business of York Transport or any of its subsidiaries. This will also be effective on completion of the deal.
