Mumbai: TRF, a Tata enterprise, has signed an agreement to acquire Dutch Lanka Trailer Manufacturers Limited (DLT), a trailer manufacturing company based in Sri Lanka. In the first phase, TRF will acquire 51% of Equity Shares at a consideration of US$ 8.67 million. It would also sign a Call & Put Option Agreement for acquisition of balance 49% of Equity Shares at a consideration of US$ 8.33 million.
DLT has manufacturing facility in Sri Lanka and sells trailers in as many as 30 countries. Through its Joint Venture with TATA International Ltd. in India, it manufactures & sells Trailers in India.
Dutch Lanka Engineering (Private) Limited, 100% subsidiary of DLT also has a subsidiary in Oman which manufactures and sales trailers in Middle East markets. TRF plans to grow rapidly – five times in five years – and become a Rs2500-crore company by 2013, by enhancing focus on material handling business and entering new businesses as necessary.
Recently, TRF had entered into a shareholders agreement along with Tata Capital and Jasper Industries to form a joint venture viz, Adithya Automotive Applications with the main objects of engaging in the business of automotive applications to provide end solutions through fabrications and machining for vehicles to be used as tippers, load bodies, trailers, refrigerated bodies, etc.
York Transport Equipment (India) Pvt Ltd [YTEI], a subsidiary of TRF Ltd, launched the first axle from its manufacturing facility located in TRF’s premises in Jamshedpur, India a few months back. Singapore based York Transport Equipment (Pte) Ltd also has manufacturing units at Singapore, Melbourne in Australia and QingDao in China.
In June, 2009, the company turned a new page in its history by deciding to issue bonus shares in the ratio of 1:1 (ie, one share for every one share held by the existing shareholders of the company.
Rs 48 crore equipment order for power project
Recently the company also bagged an order worth Rs48 crore for the design, engineering, supply and commissioning of coal handling plant equipments from BGR Energy Systems for the 2x600MW Kalisindh Thermal Power Project in Rajasthan. Some of the major equipments that will be supplied under the order are: wagon tipplers with side arm chargers, stacker cum re-claimers, apron feeders, ring granulators, and grizzly feeders. The company will also make available the necessary spares under the contract.
This sizeable order for the supply of the thermal power project equipments will serve as one measure that will enable the company to fulfil its aspiration to grow rapidly – five times in five years — and become a Rs2,500-crore company by 2013, by enhancing focus on material handling business and entering new businesses as necessary. |
