INDIA BUSINESS WORLD - JANUARY 1^st - JANUARY 15^th - 2008

SETCO FTA JOINT VENTURE TO MAKE CLUTCH ACTUATION SYSTEMS

Setco Automotive and FTE Automotive GmbH have announced a JV to manufacture and supply clutch actuation systems for passenger cars and commercial vehicles in India. The JV Company, FTE Setco Automotive, will help open new avenues and opportunities for Setco and FTE in the fast-moving Indian automotive industry, company officials said. This JV will further strengthen our position in the medium and heavy commercial vehicle segment and at the same time help us penetrate the LCV, passenger car and farming equipment segment with new products, Setco CMD Harish Sheth said. "With Indian companies going global and a lot of our global clients entering India, partnering with Setco is definitely an attractive investment... ," Klaus Glocker, CEO, FTE, said.