Ruia Group acquires company in France

May 17th, 2011 - 8:54 pm ICT by IANS  

Kolkata, May 17 (IANS) Kolkata-based Ruia Group has acquired a France-based automotive sealing manufacturing company with units in Europe and Africa, a company press release said Tuesday.

According to the release, the commercial court in France’s Nanterre city has endorsed the Ruias’ take-over of SEALYNX Automotive.

SEALYNX Automotive, with plants in France, Romania, Morocco and Tunisia, has a total of 981 employees on its roll and registered a turnover of 68 million euros in 2010.

The Ruia Group forayed into the business of automotive sealings in 2008 with Schlegel Automotive in Britain. In 2009, the group added Draftex Automotive GmbH of Germany to its fold.

Last week, the Ruia Group announced signing binding agreements with Standard Profil AS of Turkey and Meteor Gummiwerke of Germany.

Commenting on the new additions, group chairman Pawan K. Ruia said: “With all these companies, the sealings business of the group reaches 600 million euros ($850 million).”

“The superior technology brought in by these companies will give the group a strong foothold in the key auto markets in Europe with a pedigreed clientele that includes some of the stellar auto brands in the world,” he added.

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