Annual Report 2010 - Knorr-Bremse AG.

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By the end of the year under review Knorr-Bremse was already working with all the major Chinese
truck manufacturers on application projects involving the localized disc brake.
Knorr-Bremse CVS India joint venture acquired
As of February of the year under review, the joint venture Knorr-Bremse Systems for Commercial Vehicles
India Private Ltd., originally formed between Knorr-Bremse Far East Limited and Tata Autocomp.
Systems, became a wholly-owned subsidiary of the Knorr-Bremse Group. The company is thus responding
to the pace of growth in the Indian market and clearing the way for further expansion.
In keeping with the excellent past and prospective collaboration between the two companies, the
acquisition took place by mutual agreement. For Knorr-Bremse, the move opens up additional opportunities
to serve the Indian market as an autonomous systems supplier and to participate in market
growth as a supplier to all Indian truck manufacturers. At the same time, it enables Knorr-Bremse to
play a more prominent part in shaping technological market trends. Initial orders have already been
won and provide a promising start for the execution of Knorr-Bremse’s expansion plans.
In addition, in terms of both technology and economy the products developed and manufactured in
India frequently meet the requirements of customers in other emerging markets. As a result, Knorr-
Bremse India will be able to build a network of efficient local suppliers.