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 promoted by Escorts in November, 1954 in technical and financial collaboration with Goetz-Werke of Germany. Goetze-Werke of Germany is now owned by Federal-Mogul Corporation, a $6.3 billion global company and one of the leading manufacturers of automotive components in the world. It 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.
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 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 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.
As the Government has introduced various new emission norms,the focus in the type of rings has shifted, that are required by the customer both in terms of materials as well as profiles & coatings. Subsequent to this the market conditions of Automotive Business seems to be a promising as India is likely to become a global source for rings for many Intenational vehicle manufacturers.
The company made proposal to acquire the entire share capital of EML(Escorts Mahle Limited),a piston manufacturer,through a SPV and this proposal was approved in the Directors meeting which was held on 15th June,2002. The company which had set up a modern engine test house,was commissioned in January,2002 and made fully operational from February,2002. During 2002-03 Escorts Pistons Ltd and Coupled Investment Pvt Ltd was amalgamted 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 Inc., headquartered in lake forest, Illinois, United States of America completed the acquisition of FederalMogul LLC, the ultimate holding company of the Company, on October 1, 2018 and Federal-Mogul LLC was merged with Tenneco Inc. in 2022.
FAQs on Federal-Mogul Goetze (India) Ltd
1. Can I buy Federal-Mogul Goetze (India) Ltd from PL Capital? ›
Yes, you can invest in Federal-Mogul Goetze (India) Ltd shares directly through PL Capital. Our platform provides a seamless and secure way to buy, hold, and track Federal-Mogul Goetze (India) Ltd stock along with other leading companies listed on the NSE and BSE. Simply open a Demat and trading account with PL Capital, and you’ll be able to trade Federal-Mogul Goetze (India) Ltd as well as diversify your portfolio across equities, mutual funds, IPOs, and more.
2. Does Federal-Mogul Goetze (India) Ltd pay dividends? ›
Federal-Mogul Goetze (India) Ltd does not currently pay dividends. Investors in this case primarily benefit from capital appreciation, where the value of the stock may rise over time depending on business growth and market conditions.
3. What is the current share price of Federal-Mogul Goetze (India) Ltd ? ›
As of
01-Jan-1980 , 00:00:00 the share price for Federal-Mogul Goetze (India) Ltd. is ₹ 444.45 on the NSE (Note: Prices are dynamic and update frequently during market hours).
4. What is the 52-week high and low of Federal-Mogul Goetze (India) Ltd ? ›
The 52-week high and low of Federal-Mogul Goetze (India) Ltd share price is ₹ - ₹ as of
01-Jan-1980 , 00:00:00 .
