Company Brief
New Delhi, January 31, 2008
The Sona Group Company - Sona Okegawa Precision Forgings Ltd, (a JV between Sona Autocomp Holdings and Mitsubishi Materials, Japan), today concluded the deal to buy ThyssenKrupp Präzisionsschmiede GmBH, a subsidiary of ThyssenKrupp Technologies A.G. (a Euro 51 Billion Group).
The announcement comes after Dr. Surinder Kapur, chairman; The Sona Group concluded the deal today in Germany. After the acquisition, Sona Okegawa Precision Forgings Ltd, through Sona holdings overseas will own 100% of Sona BLW Precision Forging Group, thereby making it the largest precision forging company in the world.
The Sona Okegawa Precision Forgings Group will have in all 6 plants : 2 in India, 3 in Germany and 1 in USA, thus creating a global footprint to service customers. ThyssenKrupp Präzisionsschmiede has 1750 employees and supplies components to customers like Daimler Chrysler, Volkswagen, GM, Renault, BMW and ZF.
Speaking on this occasion Dr. Surinder Kapur, Chairman Sona Okegawa Precision Forgings Ltd said, We are confident that we have made the best choice for the long term success of the group. The takeover of TKS will provide a major impetus to Sona Okegawa's position in the domestic and the international market. This will increase the production capacity of the company from 11 million components a year to 40 million components a year. The combination of the two companies will bring enormous strategic value to the business, which is important for us meet our global expansion plans.
For further information please contact:
Avian Media
Manvir Singh Rana
Tel: +98 115 940 70/ 011 29841563-67
e-mail: manvir@avian-media.com
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