Bosch terminates JV agreement with ZF Steeting Gear

18 Feb 2019 Evaluate

ZF Steering Gear (India) has received communication, from Robert Bosch Automotive Steering GmbH (Bosch), forwarding Bosch's letter, communicating Bosch's decision to terminate the Joint Venture (JV) Agreement, dated March 31, 2007, being the agreement related to Bosch's Joint Venture with the company, implemented through Robert Bosch Automotive Steering.

The company is taking steps to convene a meeting of its Board of Directors, in order to deliberate upon the said communication received through on February 14, 2019, received from Bosch, allegedly terminating the said Joint Venture Agreement.

ZF Steering Gear (India) is engaged in the manufacture of Mechanical - worm & roller and integral hydraulic power steering gears in financial and technical collaboration with ZF Friedrichafen AG Germany, the world's largest independent steering gears manufacturer.

ZF Steering Gear (I) Share Price

1509.30 -14.30 (-0.94%)
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