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Home arrow Auto component arrow Enkei Castalloy Ltd to acquire two European companies
Enkei Castalloy Ltd to acquire two European companies Print E-mail
Written by Vijay   
Wednesday, 14 April 2010
Mumbai: Enkei Castalloy Ltd, a joint venture between Rai and Associates, India and Enkei Corporation, Japan, has decided to acquire the assets and business of two Companies (excluding any debt) in Europe to explore the business opportunities for alloy castings in Europe.

For this purpose the Company has set up 100% subsidiary in Austria, which will be used as Special Purpose Vehicle (SPV) for creating 100% subsidiaries to acquire the assets and business of the two European companies. Enkei Castalloy Ltd will be investing Euro $ 2.0 million in the initial stage.

Enkei is aggressively targeting international customers and has a vision to achieve sales of Rs 1000 Crores by 2015-16. The company's sales declined 30.27% to Rs 209.69 crore in the year ended March 2010 as against Rs 300.70 crore during the previous year ended March 2009.

Enkei Castalloy Ltd recorded a net profit of Rs 13.40 crore in the year ended March 2010 as against net loss of Rs 11.51 crore during the previous year ended March 2009.

It's products include Cylinder Heads for Passenger Cars, Cylinder Heads for four stroke 2/3 wheelers, Support Brackets, Intake Manifolds, EGR Valve, Rack Housing & CAC Tanks.

Enkei Castalloy Ltd. currently leads the Indian market in manufacturing cylinder heads for two wheelers and 4 wheelers and is a single source supplier of many critical engine parts to some of India’s largest OEMs.

Some of Enkei Castalloy’s customers are Maruti Suzuki Limited, Honda Siel Cars Limited, Tata Motors, Bajaj Auto Limited, Hero Honda Motor Industries, Honda Scooter and Motorcycle Company. International customers include John Deere, Behr Group, GE, Knorr Bremse, ZF Group, and GWK Group. Enkei currently supplies products to various Tier I / Tier II suppliers of global OEMs in Europe and USA.

The company's main site is located at Shikrapur, Pune with 1500 employees while the other site is at Gurgaon in North India. Plans for a new plant  at Pantnagar, Uttaranchal were shelved in 2008 due to the slowdown.

Last Updated ( Wednesday, 14 April 2010 )
 
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