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Sintex Industries acquires 90% stake in Geiger Technik Germany

Sintex Industries, a market leader in the plastic and textiles segment, today announced that through its wholly owned subsidiary Sintex Holdings B.V., Netherlands, the company acquired 90% stake in company holding assets of Geiger Technik GmbH (Garmisch-Partenkirchen, Germany) for Euro 35 million. Geiger family will continue to hold 10%. This acquisition will assist the company to further enhance its presence in the European Market.

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Commenting on the acquisition Amit Patel managing director, Sintex Industries, said, “This acquisition offers Sintex a strategic market entrance in Germany which is the capital of the European automotive market. GEIGER makes state of the art unique innovative products which are well positioned in a market where fuel consumption reduction becomes the USP of OEMs. “



“We do welcome the comprehensive commitment of Sintex very much. With their investment, GEIGER will continue to thrive as an innovation leader in the automotive components market and identify additional fields of business. The growing Indian economy and the emerging global footprint of Sintex can be leveraged for propelling GEIGER on accelerated growth plan,“ added Albert Geiger, the managing owner of Geiger Technik GmbH, Germany.


Yes Bank India and DZ Bank Germany acted as strategic and financial advisors to this transaction.


Details of the Transactions:




Geiger Technik GmbH currently has four manufacturing plants: 2 in Bavarian region, one in Tambach in eastern Germany and one in Poland. The production built up area is 48,500 sq mtrs.


The company is an expert in Injection molding using gas and water Injection with layer / multiplayer extrusion blow molding processes and latest joining and welding, assembly, clean room production and material technologies.


The company makes 30 different sophisticated precision plastic parts e.g. tanks and reservoirs, piping, air ducts, cooling and fuel tank components. The company products enable automotive OEMs to realize weight, cost and efficiencies advantages. The parts meet with stringent quality control as required to function mainly in tough conditions of temperature, pressure vibrations.


Its product range and the comprehensive product design capabilities which churn out wide selection of prototype solutions enabling Geiger have an edge and significant important relationship with customers.


– Markets


Major chunk of Geiger sales comes from Automotives and remaining from heating and climate technology products and sports and leisure like high speed race sleighs. Geiger serves some of the best of automotive and tier 1 automotive suppliers like BMW, VW, Daimler, Audi, Porsche Opel, Modine, Continental, Lear, TRW, Bosch and Siemens. 67% of its turnover comes from Tierl and 37% from Automotive OEMs.



Key Benefits from the transaction:


Presence in Germany, the key automotive market with most major European OEMs presence.


Elite customer base like BMW, VW, Daimler, Audi, Opel, Porsche and major tier 1 suppliers.


Unique product range, very few people in the world doing it. The product range brings significant relationship with customers. Geiger has leadership position in Europe for some product categories like coolant and brake fluid reservoirs.


LCC advantage of Poland as well as Tambach (former GDR) manufacturing bases.

Product introduction in India thru Bright AutoPlast. Off shoring and cross selling of products.


Leverage relationship of customers, suppliers across subsidiaries.

Source: My Iris

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