France based, Delfingen Industry has acquired Pune based Kartar Wire Industries Pvt Ltd, enhancing its footprints in Asia, 4traders states.
The acquisition would strengthen its position in automotive wiring harness protection solutions, while supporting its local and international customer base on the fast growing Indian market.
Kartar Wire Industries was established in the year 1981 and is engaged in the manufacture of PVC profiles, beadings, PVC sleeves and corrugated tubes. It also produces plastic extruded tubing, profiles and sleeves, used in the protection of electrical wiring harnesses and the fastening of car seat covers.
The manufacturing activities of the company are carried out through two plants located at Pune in and Gandhinagar and the products are supplied to the automotive industry.
Kartar Wire Industries earns 100% of its revenue from the domestic market.
Tata Motors is one of the company’s key clients. Its clientele base includes Honda, Toyota Boshoku America, Force, Maruti Suzuki, Bajaj, Minda, Eicher, Ford, Ashok Leyland, Samsonite, Mahindra, Tvs Motor Company.
The company showed a 32% revenue growth in the last two years and expects its revenue, which is currently EUR 3.5 Mn, to grow by 32% in the next two years.
Delfingen Industry, S.A. was founded in 1954 and is headquartered in Anteuil, France. The company engages in the supply of protection systems, fluid transfer solutions, and assembly technology services to the automotive industry worldwide.
Delfingen operates in 18 countries, employs 1,400 people worldwide, with sales revenue of EUR 122 Mn in 2012.
The Company's subsidiaries include Flexitec, Sofax, Sofamontage, Famas, and Sofanou.
Recently, Askok Leyland had concluded the sale of its Detroit based subsidiary, Defiance Testing and Engineering Services, to Exova Group; Hindustan Composites Ltd and ADVICS North India Pvt Ltd had formed a JV named COMPO ADVICS (India) Pvt. Ltd which will be established in Aurangabad for manufacturing Disc Brake Pads and related components for Passenger Vehicles; Hero MotoCorp was likely to form a JV with Magneti Marelli SpA to enhance its position as a good mileage provider.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.