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Home arrow News arrow Mergers and Acquisitions arrow Ruia Group acquires Henniges Automotive Grefrath, GmbH
Ruia Group acquires Henniges Automotive Grefrath, GmbH Print E-mail
Written by Anand   
Tuesday, 15 December 2009
Kolkata: The Ruia Group today announced it's acquisition of Henniges Automotive Grefrath GmbH, a supplier of automotive sealing systems, with a manufacturing facility in Grefrath, Germany.

"We aspire to be a global major in the business of manufacturing automotive sealing systems and an important player in the auto-ancillary business. We continuously look forward to worthwhile acquisition opportunities," said Mr Pawan K Ruia, Chairman, Ruia Group.

This is the Ruia Group's second international acquisition in the business of manufacturing automotive sealing systems in recent years. The company had earlier acquired Schlegel Automotive Europe Ltd, with its plant at Leicestershire, UK.

Henniges has about 400 employees on its roll. Mr Juregen Hein, Director and Mr Wolf Von Der Fecht, Administrator of Henniges Automotive Grefrath Ltd, respectively control 15% and 25% equity of the Company, while the rest 60% is now owned by a Special Purpose Vehicle controlled by the Ruia Group. Subsequent to the change of management, the acquired company has been renamed DRAFTEX.

"With the latest acquisition, the Ruia Group has Toyota, Daimler, BMW, Audi, Nissan, Honda and other auto-majors as its client and that makes me very happy indeed. I am sure the rubber–processing business of the group will find the state-of-the-art-technology of Henniges quite useful and Ruia Group’s unique management skill in turning around the fortunes of the acquired companies will be much helpful for Henniges," Mr Pawan K Ruia added.

The global business of sealing systems is looking up once again after a substantive meltdown in 2008. Henniges had grossed a turnover of € 83.5 million in 2008.

 
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