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Sona Okegawa buys ThyssenKrupp's Precision Forging Unit Print E-mail
Written by Anand   
Tuesday, 22 January 2008
NEW DELHI: Sona Okegawa Precision Forgings Ltd, of the Sona Group, has aquired German component giant ThyssenKrupp's precision forging business. The acquisition takes economic effect retroactively as of October 1, 2007. The acquisition is scheduled to be closed in late January.

ThyssenKrupp Technologies is a manufacturer of high-tech plants, components and machinery based on a strong history full of innovative expertise. With this acquisition Sona Okegawa Group will become the largest precision forgings group in the world.

Dr. Surinder Kapur, Chairman, Sona Okegawa Precision Forgings Group said that the low cost development and engineering skills of India and high levels of productivity and leading technology from ThyssenKrupp, will create value for global customers. He added that the company has learned a great deal from Mitsubishi Materials regarding Japanese manufacturing excellence in production which the German and U.S. plants will want to learn from and implement.

"As part of its proactive portfolio perfection process, ThyssenKrupp Technologies has found a best owner for its precision forge operations ThyssenKrupp Präzisionsschmiede," the company anounced. Its new family offers ThyssenKrupp Präzisionsschmiede outstanding preconditions for continuing and internationally expanding its successful operations.

ThyssenKrupp Präzisionsschmiede is one of the foremost companies in the development and production of forged parts for cars and trucks. The product range comprises precision forgings, Hatebur products and heavy-duty components. At its four locations in Germany (Remscheid, Wanheim, Munich) and the United States (Selma), the company has a worldwide workforce of around 1,760 and in fiscal 2006/07 generated sales of 290 million Euro.

India-based Sona Group, with 1,500 employees and annual sales of 200 million Euro specializes in the production of steering systems, rear axle components and forgings for transmissions, engines and drive trains. In taking over the precision forging shops, Sona is pursuing its goal of establishing worldwide operation in this market to become a Market Leader to service Customers globally.

The Sona Group operates 9 component manufacturing plants in India at 5 locations and holds a strategic minority stake in Fuji Autotech, Europe which has operations in France, the Czech Republic and Brazil.

Sona Okegawa Precisions Forgings Ltd had said last year that the comapny will invest Rs 100 crore in the next one year for capacity expansion - Rs 80 crore for a facility at Pune and Rs 20 crore investment at the Farukhnagar plant, Haryana.
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