ERJ staff report (DS)
Kolkata, India -- India's Ruia Group has bought the UK operations of the former Metzeler Automotive Profile Systems (MAPS) organisation from CVC Capital Partners. Financial details were not disclosed.
Last September, CVC sold the MAPS operations in Germany, Italy, Poland and Belgium and China to Cooper-Standard Automotive Inc. for an estimated €100 million; it also sold the US operations to a US private equity group, whileÂ a management team bought the French operations.
Ruia Group has re-named the UK unit Schlegel Automotive Europe and said it intends to build a new factory in India. The company makes automotive profiles, focussed mainly on sealing systems for doors, windows and other opening on cars. Turnover for 2006 was £28.3 million.
Local press quoted Pawan Ruia, Chairman, Ruia Group saying "Keeping in mind the growing demand in the automotive sector, we are planning to set up a Schlegel manufacturing unit in India. We will invest $15 million for expansion in India." He said this would operate as a single mixing plant with distributed finishing plants located close to the customers. The main plant will start its production in a year's time. Pawan Ruia was further quoted saying there is a shortage of automotive profiles in India, and the aim is to bring MAPS technology to India to serve the local market.
The equipment for these plants has reportedly already been bought onthe second-hand market from US factories which have closed.
The acquired company operates one plant in Coalville, Leicestershire UK, a 72,000m² manufacturing site, of which 22,000m² is occupied by the factory. The plant currently employees 452 people. Ruia said the UK plant would be updated and expanded at a cost of around Euro 4 million.
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Home page of Ruia Group (India)
Profile of Schlegel Automotive Europe on Ruia Group website
Dunlop buys UK's 2nd largest auto component co Schlegel Money Control (India)
Ruia Group acquires British auto component firm Economic Times (India)
Ruia rolls out local strategy for Schlegel The Telegraph (India)
Ruia Group acquires UK's Schlegel Automotive Financial Express (India)
Ruia Group acquires Metzeler Automotive The Hindu Business Line (India)