Sintex acquires German plastics supplier Geiger Technik

India based Sintex Industries Ltd has acquired a German auto component supplier. It has acquired a 90% stake in Geiger Technik GmBH for US$50m (€35.6m). The acquisition has been done through its wholly owned Netherlands-based subsidiary Sintex Holding BV. Remaining 10% will be held by the Geiger family.

Geiger produces precision plastic parts including tanks and reservoirs, piping, air ducts, cooling and fuel tank components. The company has four manufacturing plants including three in Germany and one in Poland. Geiger has a clientele including BMW, Daimler, Volkswagen, Siemens etc and its sales in 2008 are expected to be around US$165.7m (€118m).

With this acquisition, Sintex has expanded its manufacturing operations in Germany which is the largest automotive market in Europe. The acquisition will assist the company to further enhance its presence in the European market. Sintex has made a number of acquisitions in Europe, US and Africa in the last year.

Indian auto component space is hot following recent announcements by Amtek and Mahindra & Mahindra. Amtek is leading the race for German metalcast company KSM castings while Mahindra & Mahindra acquired Italian company Engines Engineering SpA and plans to manufacture small engines.

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