Federal-Mogul Goetze (India) Ltd - FEDERAL-MOGUL GO Share Price

Summary

Goetze (India) Ltd.(GIL), is a Joint Venture Company of Federal Mogul in India. The company promoted by Escorts in Nov. 54 in technical and financial collaboration with Goetz-werke of Germany 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.GILs takeover of Escorts Mahle Ltd, a leading manufacture of Piston Rings in Oct 2002 made it the largest producer of Piston Assemblies. The company has the production capacity of 50 million piston rings and over 8 million pistons per year.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... Read More