INDIA BUSINESS WORLD - JANUARY 16th - JANUARY 31st
- 2008
SONA OKEGAWA PRECISIONS FORGINGS LTD (SOPF) ACQUIRES GERMAN FORGING COMPANY
Sona Okegawa Precisions Forgings Ltd (SOPF), part of the Delhi-based automotive component maker Sona Group, announced the acquisition of the precision forging business of Germany's ThyssenKrupp Group for an undisclosed amount. Sona Okegawa will take control of ThyssenKrupp's precision forging business worth euro 291 million (around Rs 1740 crore) and rename it Sona BLW Prazisionsschmiede GmBH.
After the transaction, Sona Okegawa will emerge as one of the largest companies in precision forging business with annual business transactions of around Rs 2,000 crore, thus taking the annual turnover of the Sona Group to Rs 3000 crore. ThyssenKrupp operates out of four plants globally - three in Germany and one greenfield facility in the US. Sona will launch a special purpose vehicle (SPV) in Europe to fund the entire transaction. The new acquisition will have a presence in Germany (three plants), USA and India.
|
