Thursday, March 19, 2009

RUIA GROUP TO ACQUIRE EUROPEAN CO

 

After acquiring Schlegel Automotive Europe Ltd in 2008, Kolkata-based Ruia Group, which owns Dunlop and Jessop, is set to acquire another European company over the next few days.

 

Like Schlegel, this time also, the target company is a player in the elastomeric vehicle sealing systems for automotive OEMs (original equipment manufacturers).

Group chairman Pawan Kumar Ruia, who is currently abroad to complete the acquisition process has confirmed the developments, but refused to divulge the name of the target company.

 

"The acquisition will happen very soon. This is part of our overall strategy in consolidating in sealing system business," Mr Ruia said.

 

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