*Banco Products (India) Ltd* has acquired *NEDERLANDSE RADIATEUREN FABRIEK B.V*- private company incorporated under laws of Netherlands, and its subsidiaries by purchasing 100% of its equity for $24mn.
The decision is subject to the approval of the authorities. Nederlandse Radiateuren is engaged in manufacturing and distribution of heat transfer products. Banco is an auto ancillary firm that manufactures gaskets and radiators, used in sealing and cooling applications in automotive and industrial engines. It currently has 4 manufacturing plants in Baroda. In the last fiscal, it posted net profit of Rs 41.46cr against Rs 43.29cr previously. The net sales were Rs 287.91cr against Rs 298.85cr. According to IBEF <http://www.ibef.org/industry/autocomponents.aspx> the turnover of the auto component industry was estimated at over US$ 18 bn in 2007-08, an increase of 27.2% since 2002. It is likely to touch US$ 40 bn, increasing India’s share in the global auto component market from 1% to 3% by 2015-16. In December 2009, *Ruia Group *had acquired 60% stake in *Henniges Automotive Grefrath* for an undisclosed sum. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
