FEDERAL-MOGUL GOETZE (IND Share price

Federal-Mogul Goetze (India) Limited, a Tenneco Group Company, is a Joint Venture Company of Federal Mogul in India. The Company was erstwhile incorporated on November 26, 1954 in the name of 'Goetze (India) Limited'. The Company's name was later changed from 'Goetze (India) Limited' to Federal-Mogul Goetze (India) Limited in May, 2006. The Company is a Joint Venture Company of Federal Mogul in India. The Company is one of the leading manufacturer of Automotive Piston Rings in the world. The product range covers Piston rings, Pistons, Cylinder liners, Light Alloy Castings and Sintered Products. The Company is engaged in manufacture, supply and distribution of automotive components used in two/three/four wheeler automobiles. It operate state of the art manufacturing facilities at Bengaluru, Patiala, and Bhiwadi. GIL's takeover of Escorts Mahle Ltd, a leading manufacture of Piston Rings in Oct 2002 made it the largest producer of Piston Assemblies. The company had set up its first plant at Patiala and started commercial production in 1957. The second plant at Bangalore was started in 1977. Turneer & Novell, UK which had acquired Goetze internationally has indirectly got a 26% stake in GIL which was hold by Goetze in GIL. Goetze India has business interest in auto accessories, solvent extraction and leather garments. As a part of restructuring it has exited from the leather garment business and is planning to exit from the solvent extraction business as this plant was shut down through out the year 2000-2001 due to poor industrial conditions. The company manufactures automobile accessories namely piston rings, pistons, cylinder liners, light alloy cylinders, piston castings and groove insert sleeves. In 1999-2000, the company has expanded the production capacity of piston rings to 5,09,49,360 nos per annum. And in year 2001 the company merged the Federal Mogul Sintered Products Ltd (FMSPL), which manufactures sintered metal parts using powder metal technology under world renowned 'BRICO' brand, with the company due to business synergies. In 1989-90, it diversified into the manufacture and export of food products, solvent oil extraction and chain of supermarkets. For chain of supermarkets it has entered into a joint venture with Nanz Germany and also set up a joint venture company, Nanz Food Products for the manufacture of meat and poultry products. The plant to process mustard and sunflower seed and soyabeans has also been set up. And in 1992-93 the company has set up a 100% EOU for leather garments to increase the export earnings. But in 1998-99, this leather garments division was hived off into a seperate company [ GIP Leather (India) ] in joint venture with M/s Speith & Wensky of Germany in which the company holds 70 % equity. In 1995-96, a new company Brico Goetze (India) was set up in collaboration with T&N Plc for manufacture of Sintered Metal Components. The company which had set up a modern engine test house, was commissioned in January, 2002, making it fully operational from February, 2002. During 2002-03 Escorts Pistons Ltd and Coupled Investment Pvt Ltd was amalgamated with the company following the approval from High Court of New Delhi. With this amalgamation the company has consolidated its market leadership as a composite manufacturer of Piston Assemblies comprising of pistons,pins etc. The Company sold its entire investment in the shares of Satara Rubbers & Chemical Limited (Wholly owned subsidiary) to Akme Projects Limited on 31st March 2010. In 2015-16, the Company acquired 26% stake in Real Captive Power Private Limited (RCP), on 6 April 2015. Tenneco LLC, the ultimate global holding Company of the Company merged with Pegasus Merger Co., a corporation established in Delaware and a direct wholly owned subsidiary of Pegasus Holdings III, LLC on November 17, 2022.