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Home arrow Mergers and Acquisitions arrow Premium Transmission Ltd acquires Rexnord Stephan GmbH & CoKG, Germany
Premium Transmission Ltd acquires Rexnord Stephan GmbH & CoKG, Germany Print E-mail
Written by Vijay, Arjun   
Thursday, 28 July 2011
Pune: Premium Transmission Ltd. (a Karan Thapar Group company), a leading manufacturer of industrial gearboxes in India, has acquired the entire business of Rexnord Stephan GmbH & CoKG, Germany ,belonging to Rexnord LLC, USA.

The acquisition has been done through Netherland based SPV- Premium Stephan BV for an undisclosed sum and will take Premium’s current annual turnover from about Rs. 450 cr to Rs. 575 cr level, and help future global growth of the Company with its own technology.

Rexnord Stephan GmbH, founded in 1908 at Hameln, Germany, has a long tradition in the manufacture of Geared Motors, industrial gearboxes, customized solutions and high precision robotic drive systems with current sales of over euro 21 million.

"The acquisition of Stephan is a major step forward in the Company's desire to build a global gear business. The focus of the group is to specialise in the supply of industrial gearboxes, ensuring that our resources are dedicated to the provision of innovative gearing solutions. We intend to significantly grow the Hameln business by offering our customers flexibility in the design and supply of a wider range of products and services, enabling us to meet the demands of our customers, more effectively and efficiently," said Praveen Sachdev, Chairman of the Board of Premium Transmission Ltd.

Premium Transmission Ltd has over 50 years of specialisation in high quality Worm drives, Fluid couplings and Helical and Planetary drives up to kNm capacity.

"This acquisition is a strategic move to combine inherent strengths of Indian and German entities and use it to provide elaborate and better Industrial Power Transmission solutions to domestic and European customers. The two companies not only have complementary products but also share common technology, quality assurance and customer service philosophies, thus, providing a win- win situation to Premium as well as its global customers," said Atulya Gupta, MD & CEO of Premium Transmission Ltd.

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