TRF fully acquires York Transport
India - TRF Limited, India-based material handling company, has fully acquired Singapore's axle manufacturing company, York Transport Equipment Asia.
In October 2007, TRF had acquired 51% of York's shares through its subsidiary TRF Singapore. The company also entered into a Call and Put Options Agreement to buy the rest of the share in the future.
As such, TRF has decided to exercise the Call Option, in accordance with the initial Options Agreement, to fully purchase the remaining 49% at S$22 million.
York Group, consisting of the Singapore-based manufacturer and its subsidiaries, produces trailer axles, assembles trailer suspension kits and distributes a full range of truck and trailer components, serving almost 300 customers worldwide.
In May 2011, York had also established its biggest manufacturing plant in India, with the other two manufacturing activities in Singapore and China. The company also has offices in Thailand, South Africa, China, UK, Singapore and Australia.
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- York Transport Equipment Asia Pte Ltd