Sintex Industries through its US-based subsidiary Sintex Holding US, acquired US-based Wausaukee Composites (WCI) for a total enterprise value of USD 20.5 million, reports Business Standard.
WCI is a company engaged in manufacturer of engineered composite components for original equipment manufacturers (OEMs). It has presence in sectors including medical imaging, mass transportation, electrical components, auto components and engineering plastics.
Initially, the company will acquire 81% in WCI and subsequently buy-out the balance later.
Post acquisitions, Sintex will expand its product offerings and augment its presence in auto components business both in India and the US.
Source : myiris