Japanese company Topy Industries Ltd (Topy) has agreed to buy a 26 per cent stake in WIL Car Wheels Ltd (WCWL), a wholly owned subsidiary of wheels manufacturer Wheels India Ltd (WIL) for an undisclosed amount. WIL, part of the TVS Group, set up WCWL to carry out the passenger car steel wheel business in the country. The Japanese-headquartered firm is a leading manufacturer of steel wheels for cars, trucks, construction and mining equipment among other products.

(DealStreet Asia)