Harita Seating Systems Ltd Merged Share Price

Summary

Incorporated on 21 Feb.86, Harita Grammer (HGL) is a joint venture between the Harita group of the TVS family and Grammer Sitzsystene, Germany.It manufactures automobile seats for cars, jeeps and trucks and is an Original Equipment Supplier to TELCO for its Estate and Sierra models. In the tractor segment, it supplies to tractors and farm equipments manufacturers like Escorts, Escorts Tractors and HMT. Apart from this, bus body builders also source their requirements of seats from HGL.The company set up an assembly unit at Pune. This will ensure timely supplies of car seats to TELCO. This plant manufactures only foam cushions with reclining mechanism being supplied from the main plant. This unit is expected to go on stream in 1996. In the year 1996-97, As per the scheme of Amalgamation all assets and liabilities and reserves of transferor companies viz. erstwhile Harita-Grammer Ltd and Roloforms Polymer Ltd, transferred and vested with effect from 24th April 1996. A new variety of metro seat for the bus passenger and also driver seats for commercial vehical was developed during 2000-2001.One of its future plan of action is likely to introduce cost effective bus passenger seat variants and developing new models of two-wheeler seats.Due to the termination of Joint Venture agreement with Grammer AG,the name of the company was changed to Harita Seating Systems Ltd with prior approval from the shareholders and the Central Government. The effective date was September 27,2002.
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