Raymond said its auto components business arm Ring Plus Aqua had acquired Pune-based Trinity India, a forged component manufacturer.
This acquisition marks Ring Plus Aqua's entry into the forging industry, adding to its current portfolio of auto components which includes flywheel ring gears, flexplate assemblies, integral shaft bearings and sheet metal pulleys.
Rind Plus Aqua acquired majority stake in Trinity India with the signing of the share transfer agreement with the promoters of Trinity in Pune on Thursday.
The deal was funded through internal accruals and facilitated by Equirus Capital, the company said.
The Indian forging industry is estimated at around $2.9 billion, while the global industry is valued at over $115 billion.
Announcing the acquisition, Raymond President-Engineering Business Harshal Jayavant said, 'The acquisition of Trinity India is a significant milestone for Rind Plus Aqua, as it marks our entry into forged components. This move significantly strengthens the company's position in the global automotive power train domain. With this acquisition, we are looking at an added revenue of Rs80 crore during the current financial year.
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This acquisition marks Ring Plus Aqua's entry into the forging industry, adding to its current portfolio of auto components which includes flywheel ring gears, flexplate assemblies, integral shaft bearings and sheet metal pulleys.
Rind Plus Aqua acquired majority stake in Trinity India with the signing of the share transfer agreement with the promoters of Trinity in Pune on Thursday.
The deal was funded through internal accruals and facilitated by Equirus Capital, the company said.
The Indian forging industry is estimated at around $2.9 billion, while the global industry is valued at over $115 billion.
Announcing the acquisition, Raymond President-Engineering Business Harshal Jayavant said, 'The acquisition of Trinity India is a significant milestone for Rind Plus Aqua, as it marks our entry into forged components. This move significantly strengthens the company's position in the global automotive power train domain. With this acquisition, we are looking at an added revenue of Rs80 crore during the current financial year.
....more info