Tenneco buys Ohlins for Rs 1143 crore

- Ohlins sold to Tenneco

- Acquisition is worth Rs 1143 crore

Ohlins, the leading suspension maker, has been sold to Tenneco, an American automotive company. The Swedish company has been bought for $160 million (Rs 1143 crore).

Tenneco is the same company that owned Marzocchi, another suspension maker which was later sold to Fox. After this acquisition, Ohlins will become a subsidiary of Tenneco and will retain its team. Kenth Ohlin, the founder of the company will continue to be part of Ohlins and provide continuity in strategic and technological development. He will also retain a minority stake in the company and serve on the board of Ohlins.

"Ohlins’ technology team will allow us to rapidly grow our premium product offerings for current and future customers, as well as help us win a larger share of business in developing mobility markets," said Brian Kesseler, co-CEO, Tenneco.