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Home arrow Mergers and Acquisitions arrow Ruia Group acquires France-based Sealynx Automotive
Ruia Group acquires France-based Sealynx Automotive Print E-mail
Written by Sanjay   
Wednesday, 18 May 2011
Kolkata: Ruia Group has acquired a France-based automotive sealing manufacturing company - Sealynx Automotive. The commercial court in France's Nanterre city has endorsed the Ruias' take-over of the company.

Sealynx Automotive has plants in France, Romania, Morocco and Tunisia. The company has a total of 981 employees and clocked a turnover of 68 million euros in 2010. Following the acquisition the company has been renamed Ruia SEALYNX SAS.

"With all these companies, the sealings business of the group reaches 600 million euros ($850 million)," said Pawan K. Ruia, group chairman. Just last week, the Ruia Group had announced signing binding agreements with Standard Profil AS of Turkey and Meteor Gummiwerke of Germany.

Sealynx Automotive's customers include French OEM majors like Renault, Peugeot-Citroen and Romanian auto-manufacturer Dacia.

Since the economic slowdown of 2008, Sealynx Automotive was suffering from financial uncertainties. In December 2010 the commercial court France's Nanterre city had appointed an administrator to run the company.

 
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