Sona AutoComp to acquire Mitsubishi Materials Corporation's stake in Sona BLW Precision Forgings
New Delhi [India], Mar. 8 (ANI): Sona Group signed an agreement to acquire the entire stake of its Japanese partner Mitsubishi Materials Corporation in Sona BLW Precision Forgings Limited (SBPFL).
ANI
Mar 09, 2017 02:32 IST
New Delhi [India], Mar. 8 (ANI): Sona Group signed an agreement to acquire the entire stake of its Japanese partner Mitsubishi Materials Corporation in Sona BLW Precision Forgings Limited (SBPFL). With an annual turnover of around Rs. 2,400 crore, it is the flagship company of leading auto-component manufacturer Sona Group. The acquisition of Mitsubishi Materials Corporation's 25 percent stake will make Sona Group's holding company emerging with 100 percent ownership of Sona BLW Precision forgings limited. "The global automotive industry is in a stage of transition fuelled by the demand for green mobility and e-mobility. There is more change expected to happen in the next ten years than has happened in the last fifty years in the automotive world. This wave of change opens up new frontiers for our industry to invest in automation, technology and skill upgradation to design future-ready products and components," said Sunjay Kapur, Chairman, Sona Group. Sona BLW Precision Forgings Limited (SBPFL) today has 7 plants spread over India, Germany and Hungary and employs over 2300 people worldwide. Sona BLW and its German and Hungarian subsidiaries manufacture near-net-shaped gears precision forged speed gears, synchroniser rings, e-Axles, and differential assemblies for automotive and other applications. The company's key global customers include OEMs such as Daimler, Volkswagen Group, Renault, MAN, Scania, BMW, Porsche and Caterpillar among others. Sona BLW's Indian arm also supplies to OEMs in the passenger vehicles, commercial vehicles and tractor segments like Maruti Suzuki, Tata, Mahindra & Mahindra, TAFE, Escorts, Volvo Eicher, ITL and Bharat Benz. The Indian company also has significant exports to leading global automotive players such as John Deere, American Axle, Linamar, CNH, Carraro and DANA. (ANI)
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