Brief-ASK Automotive signs deal with FRAS-LE S.A. to establish JV in India

* CO, FRAS-LE S.A. TO ESTABLISH JV IN INDIA FOR PRODUCTION OF BRAKE PADS, LININGS FOR COMMERCIAL VEHICLES TO SUPPLY OEM, IAM MARKETS.

* JV PLANS TO INVEST MORE THAN 1 BILLION RUPEES OVER A PERIOD OF 3 YEARS.

ASK Automotive Ltd. signs joint venture with FRAS-LE, Brazil ASK (World leader in two-wheeler friction) and FRAS-LE (World leader in commercial vehicle friction segment) New Delhi, 07th December 2017: ASK Automotive Ltd., a leading manufacturer of friction materials in India with a group turnover of more than 220 million USD, and FRAS-LE S.A. (a Randon Company), a leading manufacturer of friction material with revenue of more than 380 million USD and shares traded on the stock exchange (BOVESPA FRAS), have signed an agreement to establish a joint venture in India.